According to CoinMeta, U.S. stocks opened lower, with the Nasdaq index falling by 1.4%. NVIDIA ( NVDA ) tumbled 13%, and the company announced that Jensen Huang would step down from his position. The Dow Jones index rose by 0.2%, while the S&P 500 index fell by 0.8%. Chip stocks generally declined; Intel ( INTC ) dropped 4%, and TSMC ( TSM ) fell 3.4%. Most new cloud stocks also saw declines, with Nebius ( NBIS ) falling 21% after its earnings report, and CoreWeave ( CRWV ) falling 16%.