S&P 500 Falls 0.9% as Chip Stocks Slide and 10-Year Yield Hits 5.17% Despite Cooler October PPI

U.S. stocks fell on Friday, Nov. 13, 2026, as a renewed selloff in semiconductor and artificial intelligence infrastructure shares outweighed a smaller-than-expected rise in October producer prices. Treasury yields climbed to a four-week high after several Federal Reserve officials signaled that more tightening may be needed.

Where the indexes stood

By late morning, the S&P 500 was down 0.9%, the Nasdaq Composite was down 1.6% and the Dow Jones Industrial Average was 0.2% lower, Yahoo Finance reported. The Dow stood at 52,128.41, down 168.68 points, shortly before noon Eastern time. Yahoo Finance said the major averages were still on track for weekly gains despite a volatile week.

Barchart reported the S&P 500 down 0.93%, the Dow down 0.17% and the Nasdaq 100 down 2.06%. Stocks had opened higher. Seeking Alpha reported the S&P 500 and the Dow each up 0.4% shortly after the 9:30 a.m. opening bell.

On Thursday, the Dow fell 189.40 points, or 0.36%, to 52,297.09, the S&P 500 lost 26.98 points, or 0.35%, to 7,592.40, and the Nasdaq Composite declined 100.10 points, or 0.39%, to 25,366.09, Anadolu Agency reported.

Producer prices rise less than forecast

The producer price index for final demand rose 0.3% in October on a seasonally adjusted basis, after a 1.4% increase in September, the Bureau of Labor Statistics said. Economists had expected a 0.4% gain. On an unadjusted basis, the index was up 6.5% from a year earlier, the largest 12-month rise since November 2022.

Goods prices rose 0.5% and services prices 0.2%. The index excluding foods, energy and trade services rose 0.5%, matching September, and was up 4.9% over 12 months. The measure excluding only food and energy rose 0.3% for the month and 5.0% from a year earlier, in line with expectations, Barchart said.

Yields reach a four-week high

The 10-year Treasury yield rose as high as 5.172%, a four-week high, before trading near 5.133%, according to Barchart. Chicago Fed President Austan Goolsbee said the Fed "has work to do" on inflation, and Boston Fed President Susan Collins said tighter policy may be needed to cool prices. Barchart said markets were pricing a 100% chance of a quarter-point rate increase at the Fed's Dec. 8-9 meeting.

Chipmakers lead the decline

The iShares Semiconductor ETF fell more than 4%. Advanced Micro Devices dropped more than 10% to lead S&P 500 decliners, while Sandisk fell more than 9% and Marvell Technology more than 8%. Broadcom, Applied Materials and Intel each fell more than 6%, according to Barchart. AI cloud-computing companies also slid, with Nebius Group down more than 12% and CoreWeave more than 10%.

Nvidia turned lower again as investors continued to assess the resignation of chief executive Jensen Huang, Yahoo Finance reported. The company reports third-quarter results next Tuesday.

Cisco Systems fell more than 5% to lead Dow decliners after reporting a 21% increase in fiscal first-quarter product orders, which was below expectations. Cryptocurrency-linked stocks fell as bitcoin dropped more than 4% to a 2.75-month low.

Gainers

Modine Manufacturing rose more than 28% on reports that Samsung Electronics is in talks to acquire the company. Cerebras Systems gained more than 11% after forecasting full-year core revenue of $940 million to $960 million, above the consensus estimate of $887.4 million. Nubank rose more than 6% after reporting third-quarter net income of $1.09 billion.

Barchart, citing Bloomberg Intelligence data, said third-quarter S&P 500 earnings were expected to rise 31% from a year earlier. Of the 451 S&P 500 companies that had reported, 84% beat estimates.

Overseas markets

The Euro Stoxx 50 was down 0.31%, China's Shanghai Composite closed down 0.59% and Japan's Nikkei 225 closed up 0.53%. Euro zone third-quarter GDP growth was confirmed at 0.4%. The 10-year German bund yield rose to a three-week high of 3.390%.

Investors will next watch Monday's Empire State manufacturing survey, Tuesday's October retail sales figures and minutes of the Fed's October meeting on Wednesday, Nov. 18, Kitco NewsWire noted.