Wall Street indices fall collectively after announcement of Nvidia CEO's resignation
Wall Street indices declined after Nvidia announced the resignation of Jensen Huang and the appointment of Colette Kress as interim CEO.
Translated by Qiyas from الأنباء — Original source
Key indicators on Wall Street opened lower on Thursday, following the announcement that Nvidia would step down its CEO, Jensen Huang, a move that leaves the artificial intelligence sector without one of its most prominent supporters. The Dow Jones Industrial Average fell 58.5 points, or 0.11%, at the open to 52,427.94 points. The S&P 500 index dropped 68.5 points, or 0.90%, to 7,550.84 points, according to Reuters. The Nasdaq Composite index declined by approximately 374.1 points, or 1.47%, to 25,092.109 points at the start of trading. Nvidia shares fell about 11% in pre-market trading after the company announced the resignation of CEO Jensen Huang and appointed Chief Financial Officer Colette Kress as interim CEO until a permanent successor is chosen. The company said it would consider candidates from within and outside the organization for the role, amid ongoing controversy surrounding Huang’s relationship with Alice Huang, a former executive at Singapore-based data center company MegaSpeed International, who reports are said to currently be in Beijing. The developments came days after Huang faced mounting pressure following his admission of a romantic relationship with Alice Huang, and the crisis escalated after The New York Times reported that he also had an affair with a female executive who reported directly to him.
