Canada’s main stock index slipped on Thursday after fresh uncertainty surrounding Nvidia (NASDAQ: NVDA) triggered a broad selloff in AI-focused stocks. Falling commodity prices, including oil and gold, added to the negative sentiment.
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Nvidia stock extended its decline, down around 5%, after reports emerged that CEO Jensen Huang resigned from his position. The New York Times reported that Huang was involved in an extramarital relationship with a company executive. At the same time, The Wall Street Journal broke the news that Nvidia’s board removed him from the top job. The reports follow earlier allegations involving an alleged Chinese spy. Investors reacted by shedding Nvidia shares and reassessing both the company’s leadership outlook and the durability of the broader artificial intelligence boom that has driven markets higher in recent years.
| TSX | 36,137.19 | -274.53 |  |
| TSXV | 802.78 | -14.24 | |
| CSE | 130.92 | -2.94 | |
| DJIA | 52,297.09 | -189.40 | |
| NASDAQ | 25,366.09 | -100.10 | |
| S&P 500 | 7,592.40 | -26.98 | |
The Canadian dollar traded for 70.12 cents US compared to 70.16 cents US on Thursday.
US crude futures traded US$2.47 higher at US$89.00 a barrel, and the Brent contract rose US$3.30 to US$96.06 a barrel.
The price of gold was down US$106.71 to US$3,886.05.
In world markets, the Nikkei was down 429.23 points to ¥60,819.36, the Hang Seng was down 307.37 points to HK$24,008.55 the FTSE was up 27.69 points to ₤10,863.16, and the DAX was up 153.29 points to €26,816.08.
