Nvidia Selloff Deepens as Hot US Inflation Data Adds to AI Stock Jitters

NEW YORK – Nvidia shares fell 6.5% on Tuesday, 10 November, leading a broad retreat in artificial intelligence stocks. A hotter-than-expected US inflation report raised expectations that the Federal Reserve will lift interest rates next month, Reuters reported via CNA. The Nasdaq Composite was down about 1% in the afternoon.

The inflation trigger

The consumer price index rose a seasonally adjusted 0.4% in October against a 0.3% forecast, CNBC reported, citing the Bureau of Labor Statistics. Core CPI, excluding food and energy, rose 0.3% against an expected 0.2%. The bureau did not publish an annual rate because last year’s government shutdown disrupted October 2025 data collection.

Fed Governor Christopher Waller had said earlier that core CPI “around 0.3” could justify a half-point increase. After the release, CME FedWatch data showed traders fully pricing a quarter-point hike at the 8-9 December meeting, with 13.6% odds of a half-point move.

Pressure on AI names

Beyond rates, Nvidia has hired lawyers for an internal investigation tied to its chief executive, Jensen Huang, according to Reuters. The stock was on track to lose more than $470 billion in market value over two sessions.

Other AI winners also fell. Dell dropped 4.8% and Sandisk 4.5%, though both remain sharply higher for the year. Among neoclouds, Iren slid 10%, Nebius 7% and CoreWeave 3%.

GE Vernova fell more than 6% after SoftBank revised equipment plans for its US data centre projects.

“I don’t see Nvidia falling apart. I see a very strong company hit by something not of its own making,” said Tim Ghriskey of Ingalls & Snyder, who views the selling as a buying opportunity.

Why it matters

Nvidia is one of the largest weights in global equity indices, so its swings affect pension funds and index investors well beyond the US. A more hawkish Fed would also tend to strengthen the dollar and raise borrowing costs for emerging markets, including African sovereigns that issue dollar debt.

Investors are now looking to Nvidia’s earnings a week from Tuesday and Anthropic’s planned listing as the next tests of the AI trade.

Sources

• CNA (Reuters): Nvidia selloff deepens, adding to AI jitters
• CNBC: Consumer prices rose 0.4% in October, more than expected