AMD Sinks 10.5%, Nasdaq 100 Falls 1.7%: Stock Market Today - Microsoft
The United States stock market faced a sharp reversal on Friday as a morning rally triggered by positive economic data gave way to a significant sell-off in the technology sector. While major indices initially climbed following a wholesale inflation report that showed prices cooling more than anticipated, the optimism was short-lived. By the middle of the day, the Nasdaq 100 had declined by 1.7 percent, largely due to investors pulling back from semiconductor companies that had seen recent gains.
AMD Market Value Drops Significantly
Advanced Micro Devices Inc. experienced a particularly difficult session, with its stock price tumbling 10.5 percent. This move resulted in the loss of approximately $100 billion in market capitalization by midday Friday. Trading at $524.11, the company was on a trajectory for its most severe daily decline since November 5. This downturn effectively erased about one-third of the progress made during a recent five-day rally, in which the stock had climbed nearly 45 percent. The volatility comes as market participants unwound their recent positions, which had seen a shift of capital away from Nvidia Corp. and into its competitors.
Restricted Chips Found in Shanghai
The downward pressure on tech stocks intensified as a controversy involving Nvidia Corp. and its leadership deepened. Reports surfaced regarding the departure of Jensen Huang from the company, alongside allegations of restricted technology reaching China. Specifically, a new report detailed that 22 servers produced by Dell Technologies Inc. were found to contain restricted Nvidia H800 chips. These units were reportedly sold to a Singaporean entity known as Aperia Cloud Services before being installed at a data center located in Shanghai. The facility in question is reportedly linked to a firm established by Alice Huang.
Treasury Secretary Questions Nvidia Knowledge
In response to these developments, United States Treasury Secretary Scott Bessent spoke with CNBC on Friday to discuss the implications for national security and trade compliance. Bessent stated that the Treasury Department had previously supported the blacklisting of Megaspeed, a business partner of Nvidia. During the interview, the Treasury Secretary raised questions about corporate oversight, suggesting that the core of the issue rests on whether Nvidia was fully aware of who its customers were. These comments added to the market's unease, contributing to the broader decline in the Nasdaq 100 and the specific losses seen by major chipmakers and technology firms like Microsoft during the Friday session.
Source: benzinga.com · 2026-11-13