Stocks recover from Nvidia whiplash, dollar climbs with US yields

Asian equities steadied on Friday after a volatile week, while the dollar strengthened as US Treasury yields rose. Business Recorder reported that Nvidia CEO Jensen Huang resigned on Thursday following reports about personal affairs, including an allegation involving a suspected Chinese spy, unsettling investors in the chipmaker and the wider AI industry.

Nvidia shares lost 3% in extended trading, while South Korea’s Naver fell 2.75%; analysts also said uncertainty could affect AI financing and infrastructure deals. The two-year US Treasury yield reached 4.8920%, and markets priced a 14.5% chance of a 50-basis-point Federal Reserve increase in December, compared with zero a week earlier. Brent crude slipped to $95.45 a barrel as gold rose 0.3% to $3,888.01 an ounce.