US stock futures are trading lower on Thursday, November 12, as Nvidia's leadership uncertainty triggers selling across the AI and semiconductor sectors. Nasdaq futures are down nearly 1%, while Dow futures remain slightly positive. Nvidia is under heavy pressure, while AMD and Broadcom show relative strength. Elevated Treasury yields and rising market volatility continue to weigh on investor sentiment. 📊 Market Snapshot — Premarket Dow Futures: 52,631.00 +0.10% S&P 500 Futures: 7,609.50 −0.41% Nasdaq-100 Futures: 28,197.00 −0.97% Stoxx 600: 665.16 +0.32% Shanghai: 3,655.83 −0.67% U.S. 10-Year Yield: 5.014% VIX: 18.31 +4.69% Gold: $3,942.50 −1.45% Bitcoin: $72,896.13 −2.26% Crude Oil: $85.88 −0.75% Dollar Index: 98.02 +0.03% S&P GSCI: 678.08 −0.83% Key Stock Market News and Market Drivers 1. Nvidia Stock Falls 8% Amid Leadership Uncertainty $NVDA shares fell approximately 8% in premarket trading after reports that Nvidia's board is considering CEO Jensen Huang's future amid allegations involving his personal relationships. The reports have raised concerns about leadership succession and corporate governance. However, no official decision to remove Huang has been confirmed. 2. AI and Semiconductor Stocks Face Selling Pressure Nvidia's weakness is spreading across the AI infrastructure ecosystem. $CRWV: Down approximately 5%. $IREN: Down approximately 3%. $COHR: Down approximately 3%. $MRVL: Down approximately 2%. Investors are reassessing exposure to companies closely connected to Nvidia's AI ecosystem. 3. AMD and Broadcom Show Relative Strength $AMD and $AVGO gained more than 3% in the reported premarket snapshot as investors assessed potential competitive opportunities amid Nvidia's uncertainty. Both semiconductor stocks remain important to watch for potential AI-sector rotation. 4. Megaspeed Investigation Raises Chip Export Concerns Singapore-based Nvidia customer Megaspeed has hired a US law firm to independently review its GPU inventory and compliance with US chip-export restrictions. The development adds regulatory uncertainty around Nvidia's international AI business. 5. Alibaba Stock Under Pressure $BABA declined approximately 7% in Asian trading amid concerns surrounding its relationship with Megaspeed and potential restrictions on advanced AI computing supply. 6. Treasury Yields and Market Volatility The US 10-year Treasury yield remains elevated above 5%, creating valuation pressure for growth and technology stocks. Meanwhile, the VIX increased 4.69% to 18.31, signaling rising market nervousness. Economic Calendar – November 12, 2026 Key economic events and Federal Reserve commentary to watch: Initial Jobless Claims Continuing Jobless Claims Existing Home Sales Fed officials' speeches US Treasury bill and bond auctions Investors will monitor labor-market conditions, housing activity and Fed commentary for clues about the interest-rate outlook. US Stock Market Outlook: Cautiously Bearish The November 12 premarket outlook remains cautiously bearish, with Nvidia's leadership uncertainty weighing on AI and semiconductor stocks. AMD and Broadcom are showing relative strength, while CoreWeave, IREN, Coherent and Marvell remain under pressure. Stocks to Watch: $NVDA, $AMD, $AVGO, $CRWV, $IREN, $COHR, $MRVL and $BABA. Investors should monitor Nvidia-related developments, Treasury yields, opening volume and semiconductor-sector performance before taking positions.