Wall Street Sell-Off Deepens as Nasdaq Drops and 10-Year Yield Tops 5%

admin · November 13, 2026 · 5 min read

Traders watch red downward stock charts on a Wall Street trading floor as markets fall

Wall Street extended its losses on Friday, November 13, as technology stocks led a broad sell-off and the benchmark 10-year Treasury yield climbed above 5%, piling fresh pressure on equity markets already rattled by turmoil at Nvidia.

By late morning, the Nasdaq Composite had fallen 1.45% to 24,998, the S&P 500 was down 0.82% to 7,530, and the Dow Jones Industrial Average had slipped 0.12% to 52,234, according to market data reported at 11:31 a.m. ET. The declines marked a second straight down session for all three major indexes after each fell about 0.4% on Thursday.

Tech leads the decline as yields climb

The selling was concentrated in technology and semiconductor stocks, the same high-growth names that powered much of this year’s rally. Nvidia, the chipmaker at the center of the week’s turmoil, fell again in early trading, extending a drop of more than 4% on Thursday after chief executive Jensen Huang resigned.

Advanced Micro Devices plunged 9.89% as the selling spread across the semiconductor industry, while Cisco Systems fell 5.70% in a broader slide for enterprise technology shares. Real estate stocks also suffered some of the steepest losses of the session.

The 10-year Treasury yield climbed to 5.10% during the morning, after touching 5.16% earlier in the session, raising the cost of financing future growth and making fixed-income investments more attractive relative to stocks. Gold edged 0.13% lower to $3,880.40, while defensive consumer stocks outperformed the broader market as investors rotated away from risk.

Not every stock fell. Modine Manufacturing surged 28.41% following reports that Samsung Electronics was exploring a potential acquisition of the thermal management company, and Nu Holdings climbed 10.95% as investors favored select financial technology names.

A week of inflation data and Nvidia uncertainty

Friday’s sell-off capped a week in which investors weighed two powerful forces: stubborn inflation and uncertainty over the future of the world’s most important chipmaker.

Data released Friday showed October wholesale prices rose 0.3% from September, slightly below the 0.4% forecast, but the annual rate of 6.5% was the highest since November 2022. The cooler-than-expected monthly reading briefly lifted stocks at the open, but the rally faded within the first hour as the focus returned to yields and Nvidia.

Huang’s resignation has left investors questioning the leadership of the company that dominates the market for artificial intelligence chips. Nvidia is scheduled to report quarterly earnings on Tuesday, November 17, with interim chief executive Colette Kress leading the company. Investors will be looking for reassurance that demand, product development, and customer spending remain intact despite the shakeup.

The company is also under political pressure in Washington. Congress has summoned Huang to testify about Nvidia’s chip exports to China, with a deadline for his response set for 8 p.m. ET on Friday.

Why this matters

The 10-year yield’s climb above 5% is the clearest signal yet that borrowing costs are tightening financial conditions for households and businesses alike. Higher yields raise mortgage rates and corporate borrowing costs, and they lift the discount rate investors use to value future earnings — a particular problem for capital-intensive technology companies whose valuations depend on growth years into the future. Futures markets are now pricing in a rate increase after the Federal Reserve’s December meeting, a sharp shift from expectations of easier policy earlier in the year. For ordinary investors, the message of the week is that the AI trade — the engine of the market’s gains — is vulnerable both to company-specific shocks and to the broader direction of interest rates.

Latest developments

Markets remain open until 4 p.m. ET, and the closing levels could differ from the midday figures. Traders will also be watching for any response from Huang to the congressional summons by the 8 p.m. deadline, and for Federal Reserve officials speaking later in the day.

Next week brings two major events: Nvidia’s earnings report on Tuesday, which will test whether the AI demand story still holds, and the company’s briefing of a House committee on Wednesday. Any sign that the chipmaker’s outlook has weakened — or that Washington is moving to restrict its China business further — could extend the slide.

Frequently asked questions

Why did stocks fall on Friday, November 13?

Technology stocks led the market lower as the 10-year Treasury yield climbed above 5% and uncertainty around Nvidia deepened. The Nasdaq fell 1.45% by late morning, while the S&P 500 dropped 0.82% and the Dow slipped 0.12%.

What happened to Nvidia shares?

Nvidia shares fell again on Friday, extending a drop of more than 4% on Thursday that followed chief executive Jensen Huang’s resignation. The sell-off spread to other chip stocks, with AMD plunging nearly 10%.

Why does the 10-year Treasury yield matter for stocks?

Higher yields increase borrowing costs and make bonds more attractive relative to stocks. They also raise the rate used to value future corporate earnings, which hits high-growth technology companies hardest.

What should investors watch next?

Nvidia’s earnings on Tuesday, November 17, and its House committee briefing on Wednesday, along with any response to the congressional summons due Friday evening and further signals from the Federal Reserve on interest rates.

Wall Street’s Friday sell-off shows how quickly sentiment can turn when rising yields collide with uncertainty at the market’s most important company. Whether the slide continues will depend on stabilizing yields, Nvidia’s earnings next week, and greater clarity from the Federal Reserve.