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Chip Stocks Fall 4.3%, AMD Drops 10.5%; S&P 500 Down 0.7%

Chips — Index Falls 4.3%, AMD 10.5%; S&P 500 Slips Back Under Its Pre-Sell-Off Level, 10-Year Yield at 5.13%

AMD and Broadcom give back Thursday's gains and Nvidia loses another 3.1%. Cisco falls 6.1% and Applied Materials 4.7% a day after reports above their own forecasts. Producer prices rose 0.3% in October, less than forecast, but 6.5% on the year, the most since 2022. Outside technology the market is flat: the equal-weight S&P 500 is unchanged.

In this edition

SPY QQQ DIA IWM RSP AMD AVGO MRVL

The Midday 10 Fri, Nov 13, 2026 ~60 seconds 13:00 ET

Chip stocks lead Wall Street lower. The chip index SOX is down 4.3% after a low of −6.5%, AMD loses 10.5% and Broadcom 5.3%, and the Nasdaq-100 falls 1.5%. The S&P 500 is down 0.7% at 7,542.62, back under its close of 30 October, the last before last week's sell-off. Outside technology there is little to see: the equal-weight S&P 500 fund is unchanged and six of the eleven sectors are higher. Producer prices for October rose 0.3% on the month, a tenth less than forecast, but 6.5% on the year, the most since November 2022, and the 10-year Treasury yield is at 5.13%. Cisco and Applied Materials both reported above their own forecasts last night and fall 6.1% and 4.7%.

US midday, quotes as of 12:52 ET

  1. The indices — S&P 500 down 0.7% and back under its pre-sell-off close; Nasdaq-100 down 1.5%
  2. Chips — index down 4.3% after a low of −6.5%; AMD loses 10.5% and Broadcom 5.3%
  3. Nvidia — down 3.1% at 161.09 on the first full day after Huang's resignation
  4. Last night's reports — Cisco down 6.1%, Applied Materials 4.7%, both after beating their own forecasts
  5. AI cloud, servers and optical parts — Nebius down 9.3%, Dell 8.6%, Coherent 8.4%, CoreWeave 7.7%
  6. What holds — Meta up 2.3%, Apple 0.9%, Microsoft 0.3%; software down only 0.5%
  7. ETF board — six of eleven sectors rise; staples lead with 1.3%, technology loses 2.5%
  8. Rates and dollar — producer prices +0.3% on the month, +6.5% on the year; 10-year yield at 5.13%
  9. Gold and Bitcoin — Bitcoin near $69,000 after breaking $70,000 overnight; gold steadies
  10. Morning read versus midday — Asia sold a good start, New York sells good reports

The ten lines

  1. 1

    LEVEL The indices — S&P 500 down 0.7% and back under its pre-sell-off close; Nasdaq-100 down 1.5%

    SPYQQQDIAIWMRSP

    The S&P 500 opened 0.3% higher, fell as much as 1.2% and stands at 7,542.62, down 0.66%. That is 37 points under 7,580.07, its close of 30 October, a level it had regained on Wednesday and held on Thursday. The Nasdaq-100 is down 1.54% at 27,853.20 after a low of −2.4%, and the Nasdaq Composite 1.13% at 25,078.27. The Dow is nearly flat at 52,264.69 and the Russell 2000 of smaller companies falls 0.62% to 2,781.74. The VIX, Wall Street's fear gauge, is at 19.69, up from 18.70, after touching 20.9. The equal-weight S&P 500 fund RSP is unchanged, so the loss in the index comes from its large technology stocks. For the week the S&P 500 is still up 2.2%.

  2. 2

    DOWN Chips — index down 4.3% after a low of −6.5%; AMD loses 10.5% and Broadcom 5.3%

    AMDAVGOMRVLMUINTCQCOMTSMSOXX

    The chip index SOX falls 4.34% to 10,050.92; at its low it was down 6.5%. AMD loses 10.5% to 523.80 and is back under Wednesday's close of 552.90; it had gained 30% in the five sessions to Thursday. Broadcom falls 5.3% to 345.16, exactly where it closed on Wednesday. Marvell is down 6.0%, Micron 4.2%, Intel 3.9%, Qualcomm 3.0% and TSMC's US shares 2.3%. Reports describe the move as the unwinding of this week's rotation into Nvidia's rivals, with no company news from AMD (Investing.com, Yahoo Finance). The chip index now has 51% of last week's loss back, after 86% on Thursday, and stands 6.0% under its close of 30 October.

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  4. 3

    DOWN Nvidia — down 3.1% at 161.09 on the first full day after Huang's resignation

    NVDA

    Nvidia opened 2.2% higher at about 170, fell as low as 158.40 and trades at 161.09, down 3.07%. It stays above Thursday's low of 148.80, the 52-week low. The stock is 21.3% under its close of 30 October. Finance chief Colette Kress leads the company as interim chief executive and the board is searching for a successor (company release of Thursday). On Thursday AMD and Broadcom rose as Nvidia fell; today all three fall together. Nvidia reports third-quarter results on Tuesday after the close.

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C · line 11 · members

Today in line 11: how much of the fall in chips is rates and how much is this week's positioning, what the session does not say about orders, and the levels we watch into the close.

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Further reading on Closelooknet

Ten lines on the US midday tape, not advice — an investment diary. Published every trading day at 12:30 ET. See The Morning 10 and the Daily Pulse.