Stocks fall but Wall Street notches a winning week after several
turbulent days
[November 14, 2026] By
DAMIAN J. TROISE and ALEX VEIGA
U.S. stocks closed lower Friday as a pullback in big AI-focused
companies weighed on the market, capping a turbulent week on Wall
Street.
The S&P 500 fell 0.4%, but managed to post a 2.5% gain for the week.
This marks the benchmark index’s first winning week since October and
its biggest weekly gain since August.
The Dow Jones Industrial Average recovered from an early slide and eked
out a 0.1% gain. The Nasdaq composite fell 0.9%, but also notched its
first weekly gain in five weeks.
The major indexes have been shaky this week as some of the biggest AI
companies pushed and pulled the market. Many of those companies have big
stock values with a heavier impact on the market’s gains or losses.
The market remained unsteady a day after the AI industry was rocked by
the resignation of Nvidia CEO Jensen Huang. The company has been the
face of the AI industry, which has been responsible for much of the
gains, and big swings, on Wall Street.
Huang stepped down after his affair with a Chinese tech executive raised
U.S. national security concerns. Nvidia’s longtime chief financial
officer, Colette Kress, will be its interim CEO. The ensuing fallout
cost Nvidia’s market cap just under $600 billion this week.
The AI industry's influence over Wall Street was evident again Friday,
as the slump in technology stocks with a big focus on AI weighed on the
market, even though more than 60% of the stocks within the S&P 500 rose.
Nvidia was again among the heaviest weights and it fell 2%. Broadcom
fell 4.8% and Advanced Micro Devices lost 8.8%. Both companies saw their
shares surge earlier this week as the management shake-up at Nvidia
unfolded.
Nvidia in particular has been slipping for weeks amid wider concerns
about a potential slowdown for the industry. The big worry has been
whether AI will produce enough profit to justify the costly investments
and big stock values.
“Nvidia's pullback serves as a reminder of the concentration risk
embedded in a market where a small number of mega-cap technology stocks
have driven an outsized share of returns,” said Angelo Kourkafas, senior
global strategist at Edward Jones, in a research note.
Outside of AI, Microsoft rose 0.2%, despite suffering a global outage
for its web services that disrupted email accounts and other
applications.
Among the gainers were healthcare and financial stocks. Eli Lilly and
Co. rose 1.3%. Payment processors Visa and Mastercard also closed 1.3%
higher.
All told, the S&P 500 fell 30.73 points to 7,561.67. The index is up
10.5% so far this year.
The Dow gained 50.46 points to 52,347.55, and the Nasdaq gave up 229.82
points to close at 25,136.27.
Oil prices swung a day after President Donald Trump said that the U.S.
didn’t “need a deal with Iran” even as the conflict in the Middle East
drags on. Brent crude, the international standard, initially jumped
early Friday before easing. It settled at $95.84 a barrel. It was
trading near $72 per barrel in late February before the Iran war began.
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Trader Robert Greason works on the floor of the New York Stock
Exchange in New York, Monday, Nov. 9, 2026. (AP Photo/Yuki Iwamura)
 Stocks in Europe were mixed.
Treasury yields were mixed in the bond market. The yield on the
10-year Treasury, which influences mortgage rates, rose to 5.15%
from 5.10% late Thursday.
The yield on the two-year Treasury rose to 4.87% from 4.86% late
Thursday. It closely tracks expectations for action from the Federal
Reserve, which is expected to raise its benchmark interest rate at
its December meeting in an effort to cool stubbornly hot inflation.
A report on Friday showed that wholesale inflation cooled a bit last
month, but remains very high. The report measures inflation
experienced by businesses, before it can reach consumers. Inflation
at the consumer level remains stubbornly high at well above 3%.
That's also much higher than the Fed's preferred target of 2%.
Rising energy prices because of the U.S. war with Iran have been
fueling inflation. Household budgets are getting squeezed directly
by higher gasoline costs, but pricier gas and diesel raise costs for
anything that is shipped. Prices for everything from food to
clothing have been rising.
The latest wholesale inflation report also shows food prices and
other costs gaining ground, despite some easing for energy costs.
“That suggests inflation is working its way into the broader economy
rather than remaining concentrated in the original areas of price
pressure,” said Chris Osmond, chief investment officer for Fifth
Third Wealth Advisors, in a research note. “If that continues, it
becomes much harder for the Fed to simply look through inflation as
temporary.”
The central bank held rates steady at its last meeting, following a
previous rate hike. The latest hot updates on inflation have
prompted economists to overwhelmingly expect a rate hike at the
upcoming December meeting, with another hike likely to follow in
January.
Rate hikes by the Fed can cool inflation, but that makes borrowing
more expensive and can slow economic growth.
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AP Business Writers Chan Ho-Him and Michelle Chapman contributed to
this report.
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