Nvidia announced at 8:50 a.m. that founder Jensen Huang had resigned as president, chief executive and a director, effective immediately, ending a 33-year run — and named CFO Colette Kress interim chief. Shares opened down 13% at $151.01, touched a new 52-week low of $148.80, then clawed back to close at $166.19, down 4.3% — the lowest close since March 30 — with roughly $600 billion in market value gone this week; earnings are still due Tuesday.
Nvidia stock has fallen 35% from its all-time high | Huang resigns; shares drop 10%, Kress named interim chief
ELECTIONS & CONGRESS
COLOM WINS MISSISSIPPI — FIRST BLACK SENATOR FROM THE STATE SINCE 1874 — Democrat Scott Colom beat Sen. Cindy Hyde-Smith by 4,669 votes, 49.2% to 48.7%, in a race the AP called Wednesday evening — the first Democrat to win a Mississippi Senate seat since John Stennis in 1982, and the Democrats’ eighth pickup, giving them a 55-44 Senate edge with Alaska still uncalled.
ALASKA: PELTOLA’S LEAD NARROWS TO 3,975 — NEXT UPDATE FRIDAY — Mary Peltola held 48.73% of first-choice votes to Dan Sullivan’s 47.13% after Wednesday’s small ballot drop — a lead of 3,975, now smaller than the votes for the other Dan Sullivan — and her campaign lost a court bid for records on rejected absentee ballots; the next big update comes Friday, with ranked-choice tabulation Nov. 18 and certification Nov. 25.
HOUSE: DEMS PROJECTED 257-170 — SIX RACES UNCALLED, THREE WITHIN 350 VOTES — The Downballot projects Democrats at 257 seats to 170 for Republicans, with six races uncalled — Alaska at-large, California 23, Minnesota 1, North Carolina 5 and 7, and Tennessee 4 — plus two Louisiana runoffs Dec. 12; three of the uncalled races sit within 350 votes, and North Carolina’s 3rd flipped to Democrat Raymond Smith by 293 votes after provisionals.
BLUE DOGS DOUBLE TO 24 AFTER THE WAVE — The House Blue Dog Coalition went from 10 members to 24 as Democrats swept in from rural and conservative regions; co-chair Marie Gluesenkamp Perez calls it “an affirmation” of pragmatist candidates.
HOUSE GOP PICKS JORDAN MINORITY LEADER, 106-73 OVER SCALISE — House Republicans elected Jim Jordan minority leader Tuesday, 106 to 73 over Steve Scalise, in a secret-ballot vote; Roll Call says he will team with incoming chief of staff Stephen Miller to push back on Democratic investigations, while House Democrats hold their leadership elections Nov. 18 behind closed doors.
BUSINESS & YOUR MONEY
JOBLESS CLAIMS RISE TO 200,000 — STILL A TIGHT LABOR MARKET — Initial claims rose 9,000 last week, a bit above the 195,000 forecast, but claims have stayed at or below 200,000 since mid-September; continuing claims fell 20,000 to 1.697 million, leaving the Fed focused on inflation, with a December hike nearly priced in.
OIL SURGES AS TRUMP KILLS IRAN DEAL HOPES — December WTI crude closed up $2.21, or 2.55%, at $88.49 a barrel — Brent briefly topped $96 — after President Trump said the U.S. no longer needs a deal with Iran; the rally came despite a bearish EIA report showing inventories up 4.66 million barrels and U.S. production at a record 14.013 million barrels a day.
AMD, BROADCOM SOAR AS NVIDIA SINKS — Wall Street picked winners from Huang’s exit: AMD climbed 5.9% to $584.89 and Broadcom 5.7% to $364.73, with Alphabet up 2.1%, while Nvidia-backed CoreWeave fell 7.5% and suppliers TSMC and Micron slipped — the market pricing rivals as the beneficiaries of a leadership vacuum.
QUICK HITS
ALASKA RANKED-CHOICE TABULATION SET FOR NOV. 18
THREE HOUSE RACES WITHIN 350 VOTES
LOUISIANA RUNOFFS SET FOR DEC. 12
FEDERAL GOVERNMENT
TRUMP TELLS VANCE: FORGET IRAN, HUNT “CORRUPTION” AT HOME — President Trump directed Vice President JD Vance to shift his focus away from the Iran war and devote himself to fighting what the president calls corruption and crime in Democratic-controlled cities and states: “We don’t need a deal with Iran. Those days have long since passed. We’ve got their money, Hundreds of Billions of Dollars, and we’ve got their Strait!” Vance, who led the Iran talks and blamed the war for the midterm losses, is seen as a leading 2028 contender.
WHITE HOUSE SET TO EXTEND JONES ACT WAIVER TO KEEP FUEL PRICES DOWN — The administration is set to extend a waiver letting some foreign-flagged ships transport oil and other commodities between U.S. ports, four industry sources said — a tool it has used to try to lower diesel and gasoline prices; the extension would require case-by-case review rather than blanket exemptions, and a White House official said no decision has yet been made.
WHITE HOUSE WARNS DEM PROBES COULD BE “CRIMINAL” — GARCIA WON’T BACK DOWN — White House counsel Will Scharf told incoming Oversight chairman Robert Garcia that Democratic investigations could cross into “blatant criminality”; Garcia told NPR’s Morning Edition the party will press ahead, with the Kushner family’s $2 billion Saudi investment a top target.
SUPREME COURT LETS BIG BEND WALL BUILDING RESUME, 8-1 — In a Monday ruling on the emergency docket, the court lifted a lower judge’s block on border-wall construction across the Big Bend region, finding the government “exceedingly likely to prevail” on DHS’s waiver authority; Justice Jackson was the lone dissenter.
COURT BLOCKS IMMIGRATION CONDITIONS ON PUBLIC-SAFETY GRANTS — A Rhode Island federal judge permanently barred the administration from conditioning congressionally authorized public-safety grants on states’ cooperation with immigration enforcement, in a case brought by 22 attorneys general and Pennsylvania’s governor.
JUDGE TOSSES HARVARD ADMISSIONS SUIT — DOOR LEFT OPEN — Judge Myong Joun dismissed the Justice Department’s suit seeking Harvard’s admissions records, ruling the government had not shown it followed required procedures before suing; the dismissal is without prejudice.
BUSINESS & YOUR MONEY
FLORIDA ACA PREMIUMS UP 10.4% FOR 2027 — SOME PLANS JUMP 25% — Floridians shopping the ACA marketplace face premiums 10.4% higher on average for 2027 — after a 34% jump last year — with UnitedHealthcare of Florida’s HMO up 25% to $1,031 a month and Blue Cross and Blue Shield of Florida up 18% to $1,306; nationwide, benchmark premiums rise 13%, and shoppers must enroll by Dec. 15 for Jan. 1 coverage.
HOUSING MARKET FLASHES A WARNING SIGN — Pending home sales fell 10.5% from a year ago as would-be buyers stay on the sidelines — the latest sign the housing market is stalling.
QUICK HITS
STEPHEN A. SMITH INTERVIEWS TRUMP — “NO WAY IN HELL” ON PRESS SECRETARY JOB
BBC DEPOSITION: TRUMP MUST SIT BY DEC. 11
FED LEFT RATES AT 3.75%-4.00% LAST MONTH
MEDIAN UNEMPLOYMENT DURATION 11.9 WEEKS, LONGEST SINCE 2021
GEOPOLITICS
PARAGUAY PROSECUTORS RAID PRESIDENTIAL RESIDENCE IN PEÑA PROBE — Paraguayan prosecutors raided the presidential residence — the first time the palace has ever been raided, a historian said — as economic-crimes agents extracted data in the probe of former President Santiago Peña, who is charged over the collapse of digital lender ueno and held in pretrial detention; prosecutors allege he used his office to keep public money at the bank despite his financial ties to it.
MILLIONS THRONG LIMA AS POPE LEO URGES FUJIMORI TO HEAL PERU’S WOUNDS — Crowds flooded Lima’s streets for the second day of the pope’s emotional homecoming — a record 3 million turned out Wednesday — as Leo urged President Keiko Fujimori to confront the country’s turbulent past; a youth vigil at the national stadium is tonight, and he flies to Chiclayo Friday, where more than a million are expected at Mass.
WITKOFF, KUSHNER MEET PUTIN, HEAD TO DUBLIN FOR ZELENSKY TALKS — After a two-hour Kremlin meeting, Witkoff said the trilateral talks have restarted and a new meeting is set; he and Kushner now fly to Dublin to brief Zelensky, who sees a “window of opportunity” for a deal this year — though Putin said European troops in Ukraine would be “absolutely unacceptable.”
COP31 LEADERS CLASH AS VENEZUELA ASSERTS RIGHT TO PUMP MORE OIL — Two days of leaders’ speeches in Antalya left negotiators with clashing demands — island states pleading for emissions cuts, producers defending fossil fuels — as Venezuela’s acting president Delcy Rodriguez reaffirmed her country’s “sovereign right” to develop its oil industry.
KOSPI SNAPS ITS RALLY AS NVIDIA JITTERS HIT SEOUL — South Korea’s benchmark fell 0.61% to 5,342.73, ending a two-day rally, as Nvidia’s leadership crisis weighed on chip names — Naver plunged 6.43% and SK hynix 1.8%, though foreigners were net buyers.
INDONESIA’S VP RESIGNS, ESCALATING A DESTABILISING FEUD — Vice President Gibran Rakabuming Raka handed his resignation to parliament, escalating the feud inside Indonesia’s ruling camp, even as former president Jokowi pledged support for President Prabowo.
BUSINESS & YOUR MONEY
SPAIN’S WORKERS HOLD GENERAL STRIKE OVER HOUSING COSTS — Spanish workers staged a general strike over housing costs ahead of a national election, in a country where the housing squeeze has become the defining political fight.
CHINA AT COP31: ELECTRIFICATION PLEDGE TAKES CENTER STAGE — Beijing sent 1,021 delegates to Antalya, its largest COP contingent yet, as Vice-President Han Zheng reaffirmed China’s aim of a 35% electrification rate by 2030 — and talk turns to whether China hosts COP33 in 2028.
QUICK HITS
POPE TO CHICLAYO FRIDAY; 1M+ EXPECTED AT MASS
FITCH PUTS PARAGUAY ON NEGATIVE WATCH
KOSPI FOREIGNERS NET BUYERS OF 370.4B WON
SPORTS
COMMANDERS, GIANTS REMATCH TONIGHT AFTER 27-27 TIE — The NFC East rivals meet at MetLife at 8:15 p.m. on Prime Video, a month after their first game ended deadlocked; the division-leading Giants (5-2-1) host a Washington side at 2-5-1, with rain in the forecast.
BLAZERS STUN THUNDER 118-108 — Avdija scored 28 as Portland beat Oklahoma City, handing the Thunder a rare loss despite 31 from Gilgeous-Alexander.
LAKERS TOP BUCKS 123-112 AS DONCIC DROPS 32 — Doncic scored 32 as the Lakers beat Milwaukee, with Reeves adding 18.
CAVS EDGE KNICKS 115-107 BEHIND HARDEN’S 32 — Harden scored 32 as Cleveland edged New York, with Mitchell adding 23.
WAGNER’S 38 POWERS MAGIC PAST JAZZ 123-108 — Wagner poured in 38 points and 8 rebounds as Orlando upset Utah.
NETS ROUT PELICANS 145-111 — Porter Jr. and Diomande scored 22 each as Brooklyn routed New Orleans.
TRAVEL
BOSTON AND MAINE LEAD NEW ENGLAND’S HOLIDAY SEASON — Boston’s Snowport market opened Nov. 6 with 130+ small businesses, and in Kennebunkport Santa arrives by lobster boat — plus 750,000 lights at Gardens Aglow in Boothbay from Nov. 14.
EUROPE IN NOVEMBER: BALLOONS, WINE AND EARLY CHRISTMAS MARKETS — Portugal’s Alentejo hosts its balloon festival through Nov. 12 and a wine festival in Borba through Nov. 15, while Vienna’s famous Rathausplatz market opens Nov. 13.
INDIA IN DECEMBER: 21 PLACES, FROM GOA TO THE WHITE DESERT — December in India means Goa’s beaches and Sunburn Festival, the Rann Utsav in the white salt desert, and snow in Manali — 21 picks for the month.
ESTES PARK LIGHTS UP FOR WINTER — Bond Park gets a brand-new illuminated wildlife display — stag, bear, fox, owl, squirrel and rabbit — from mid-November to mid-February, with a tree lighting and Catch the Glow parade.
SIX EUROPEAN FOOD FESTIVALS STILL AHEAD — Palermo’s Sherbeth gelato festival runs Nov. 13-16 with 60 makers from six continents, and Alba’s white truffle fair runs to Dec. 6.
FOOD
BON APPÉTIT’S 2026 THANKSGIVING: GRAVY-BRAISED TURKEY — Bon Appétit’s November issue builds the feast around a gravy-braised turkey, cheesy Brussels sprouts and a cranberry meringue pie.
SUNSET’S 33 THANKSGIVING SIDES — Thirty-three sides from mashed and sweet potatoes to artichoke-Parmesan sourdough stuffing and pasta stuffing — the Italian-American answer to a bread shortage.
SHE COOKED 1,300 INA GARTEN RECIPES — HER 10 THANKSGIVING FAVORITES — One cook’s 10 favorites from 1,300 Ina Garten recipes: make-ahead gravy, autumn sangria, a turkey roulade instead of carving, and pecan squares over pie.
EDIBLE BOSTON’S THANKSGIVING ROUNDUP — Roasted butternut squash with maple butter, cider-braised Brussels sprouts and apple-pear-cranberry pie — with Boston-area farmers markets open through Thanksgiving week.
NPR’S LIFE KIT: NEW THANKSGIVING RECIPES AND HOSTING CALM — A turkey roasted on a pizza stone, cheesy pizza stuffing, Samin Nosrat’s pull-apart garlic bread and Mama Stamberg’s cranberry relish — plus how to actually enjoy hosting.
BACKLASH AGAINST AI — HUANG IS OUT, AND THE AI TRADE HAS A SUCCESSION PROBLEM — The backlash moved from politics to the boardroom in a morning: Nvidia’s founder resigned, the stock closed down 4.3% at $166.19 — its lowest close since March 30 — with roughly $600 billion in market value gone this week, and the Nov. 18 House briefing now has no CEO to question. The backlash is local, too: Palm Beach County commissioners imposed a one-year moratorium on hyperscale data centers in September, and the county is still writing the permanent rules. The thread’s question, sharpened: the growth engine just lost the one person who coordinated it — and the next test is Tuesday’s earnings under an interim chief.
HEALTH CARE — FLORIDA: PREMIUMS JUMP AGAIN, AND SIGNING UP GOT HARDER — Florida’s marketplace premiums rise 10.4% on average for 2027 — on top of last year’s 34% jump — with UnitedHealthcare of Florida’s HMO up 25% to $1,031 a month, and shoppers must enroll by Dec. 15 for Jan. 1 coverage. Signing up got harder, too: CMS’s new identity checks demand one-time agent codes and Experian verification for “high-risk” shoppers, tripping up the self-employed who lean on the marketplace most, per KFF Health News. The thread’s question, sharpened: the bill is rising and the door is narrowing at the same time — and the people dropping out are the healthy ones the risk pool needs.
LIVING BEYOND THEIR MEANS — ANOTHER RECORD: $40,584,130,080,272 — Tuesday’s Treasury print put the total at $40,584,130,080,272 as of Nov. 10 — up $24,333,491,030 in a single day, another all-time high. The $41.1 trillion cap will be hit by mid-2027, the Bipartisan Policy Center expects, and the votes to raise it will belong to Democrats, who take both chambers in January. The thread’s question, sharpened: a government that cannot pass a budget on time will now have to pass a debt-limit increase on a deadline — with the other party holding the votes.
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