Markets
Wall Street Turns Lower by Late Morning as Nasdaq Slides and the 10-Year Treasury Yield Reaches 5.16%
Image: retobkeller via Pixabay
Stocks opened higher after the PPI report, then faded as Nvidia turned lower again and rate-hike worries pushed yields to their highest since October.
By Emmanuel Cruz ·
U.S. stocks reversed an early advance on Friday, Nov. 13, as the Nasdaq Composite led declines and the 10-year Treasury yield climbed to its highest level since October. Yahoo Finance reported that by late morning the S&P 500 was down about 0.8% and the Nasdaq was off about 1.6%, while the Dow Jones Industrial Average was little changed, at 52,204.42 and down 0.18% as of 11:07 a.m. ET [1]. Those moves followed an open in which the Dow and S&P 500 each gained about 0.4% and the Nasdaq was flat [1].
Weakness deepened through the morning. The Associated Press had earlier described the S&P 500 as down 0.1% and the Nasdaq down 0.4%, with the Dow up about 125 points, or 0.2% [2]. TheStreet put the opening gains at 0.35% for the S&P 500, 0.39% for the Dow and 0.21% for the Nasdaq, while the Russell 2000 of smaller companies lost 1.66% [3].
Nvidia was again a focal point a day after Chief Executive Jensen Huang resigned. The AP said the stock had fallen 15% at one point on Thursday before recovering, and that it rose more than 2% before Friday's open [2]. Yahoo Finance said the shares then turned lower again during the session, with Colette Kress serving as interim chief executive [1]. Nvidia is scheduled to report earnings on Tuesday, with no permanent CEO in place [1].
The bond market added pressure. The 10-year yield reached 5.16% on Friday, its highest since October, up from 5.10% on Thursday, Yahoo Finance reported [1]. The producer price index for October, released at 8:30 a.m. ET, rose 0.3% on the month, below the 0.4% forecast, though the annual rate of 6.5% was the highest since November 2022 [3]. TheStreet reported that markets were pricing a quarter-point Fed rate increase at the Dec. 8-9 meeting [3]. Fed Governor Michelle Bowman said earlier in the week that inflation pressures had "persisted for longer than I had hoped," Yahoo Finance reported [1].
Volatility rose with the selling. The VIX, a gauge of expected stock-market swings, climbed above 20 in morning trading, according to Yahoo Finance [1]. Even so, the AP said the S&P 500 was on track for a weekly gain of 2.8% after several turbulent days [2].
Outside the main indexes, bitcoin fell below $70,000 for the first time since August, dropping 3.84% to $68,867.33 as of 9:59 a.m. ET, with about $1.3 billion in crypto futures positions liquidated over 24 hours, TheStreet reported [3]. Cerebras rose 11.4% in premarket trading after its earnings report, and Microsoft shares fell 1.4% premarket during a global outage affecting Microsoft 365 services such as Outlook and Teams [2][3]. In energy, the AP reported Brent crude up 0.2% at $96.04 a barrel and U.S. crude down 0.4% at $88.39 [2].
Why it matters: higher yields raise the discount rate applied to growth stocks, and the Nasdaq's outsized decline suggests investors are weighing rate-hike risks against the AI trade. What to watch next: Nvidia's results on Tuesday, further Fed commentary ahead of the December meeting, and whether the S&P 500 can hold its weekly gain into the close [1][2].
Sources:
[1] Yahoo Finance, "Stock market today: S&P 500, Nasdaq turn lower as wholesale inflation rises, Nvidia stock falls", November 13, 2026. https://uk.finance.yahoo.com/news/live/stock-market-today-friday-november-13-dow-sp-500-nasdaq-nvidia-ppi-141451558.html
[2] The Associated Press (via NV Daily), "Stocks sway as Wall Street heads heads for a winning week after several turbulent days", November 13, 2026. https://www.nvdaily.com/associated_press_national/stocks-sway-as-wall-street-heads-heads-for-a-winning-week-after-several-turbulent-days/article_1f538883-70da-5291-8d5a-b1b83f8054b7.html
[3] TheStreet, "Stock Market Today (Nov. 13, 2026)", November 13, 2026. https://www.thestreet.com/stock-market-today/stock-market-today-dow-jones-sp-500-nasdaq-updates-nov-13-2026
This article was produced with AI assistance. It is for informational purposes only and is not financial advice. StockVolt and its authors may hold positions in securities mentioned.