Good afternoon and welcome to Markets Desk.
Nvidia shares fell sharply today after CEO Jensen Huang resigned following reports of a personal relationship with a woman identified as a suspected Chinese spy. The stock dropped around five percent, rattling the broader semiconductor space. Notably, U.S. officials confirmed the matter will not be raised during upcoming diplomatic discussions with China, a signal Washington is treating this as a corporate governance issue rather than a national security flashpoint for now.
Staying with the AI trade, strategists are urging investors not to confuse leadership turbulence at one company with a breakdown in the broader artificial intelligence buildout. The argument from portfolio managers is that we remain early in the cycle, and that the real beneficiaries may not be the headline chip names at all, but the industrial, logistics, and healthcare companies quietly embedding AI into their core operations without the same valuation risk.
Meanwhile, a story worth watching outside equities: major airports in Toronto and Montreal have issued ground stops as flight disruptions originating in the United States ripple north across the border. NAV CANADA is managing the rerouting, but travelers should expect significant delays as diverted aircraft stack up across Canadian hubs.
That's the tape. Markets Desk, signing off the floor.
