Welcome to Markets Desk, here's where things stand.
Equities closed in the red Thursday, with the S&P five hundred down roughly a third of a percent and the Nasdaq one hundred not far behind. The pressure came from a sharp selloff in Nvidia shares, compounded by rising crude prices and bond yields that gave investors reason to trim risk across the board.
Nvidia's slide connects directly to the stunning departure of Jensen Huang, who resigned as chief executive following reports of extramarital affairs. The fallout was felt well beyond the stock price — at the Cerebral Valley AI Summit in San Francisco, founders and venture capitalists openly wrestled with what a Nvidia without Huang means for the broader AI buildout, with some rivals quietly acknowledging an opening.
Meanwhile, a regulatory filing reviewed by Fortune reveals that Jane Street, the quantitative trading powerhouse, more than doubled its Nvidia stake in the third quarter — a position established just weeks before Huang's resignation became public. The timing raises pointed questions about concentration risk, and whether one of Wall Street's sharpest quant shops will be reassessing that bet in the current quarter.
That's the tape. Markets Desk, signing off the floor.
