FX.co ★ US Futures Fall Further After Huang Resigns as Nvidia CEO

US stock futures extended losses after Jensen Huang resigned as Nvidia’s president and CEO, injecting fresh uncertainty into the global AI sector. S&P 500 futures fell 0.8%, Nasdaq 100 contracts dropped more than 1%, and Dow futures also edged lower. Nvidia shares slumped 10% in premarket trading after CFO Colette Kress was appointed interim CEO, following a board meeting that culminated in Huang’s departure over his links to a Megaspeed executive widely suspected of being a Chinese spy. Under Huang’s leadership, Nvidia’s market capitalization swelled to nearly $6 trillion, and he drove deal-making across the AI supply chain, making his exit a shock to the broader technology industry. AMD and Broadcom traded higher, but AI infrastructure names sold off sharply. Nebius also fell nearly 10% after postponing part of its data center capacity expansion. Elsewhere, several sectors provided some relief, rebounding after Tuesday’s hotter-than-expected CPI print reinforced expectations for additional Federal Reserve rate hikes in the current tightening cycle.