Nvidia’s 13% Weekly Drop Weighs on Chip Stocks

The Dow Jones Industrial Average rose 50.46 points, or 0.10%, to 52,347.55. The S&P 500 slipped 30.73 points, or 0.40%, to 7,561.67, while the Nasdaq Composite lost 229.82 points, or 0.91%, to 25,136.27.

Nvidia shares fell 13% for the week, their steepest weekly decline since April 2025, when President Trump’s sweeping tariff announcements rattled global investors. The drop erased $573 billion from the company’s market value. The selling spread on Friday to chipmakers, including Advanced Micro Devices, whose shares had appeared to benefit from Nvidia’s deepening scandal. Investors weighed what Jensen Huang’s chaotic exit could mean for the artificial-intelligence boom.

The PHLX Semiconductor index, which includes Nvidia rivals AMD and Broadcom, fell 3.4% on Friday, although it still ended the week up 8%. AMD shares dropped 8.8% that day, wiping $84 billion from its market value.