Trump says Huang had "no idea" the woman was a spy, but Nvidia sinks 6.7% to $166.75

Update to our Tuesday morning report: President Trump says he called Nvidia CEO Jensen Huang and came away believing Huang did not know the woman he had an affair with was an alleged Chinese spy. Nvidia shares were still trading at $166.745 at 12:46 PM ET, down $11.925 or 6.67%, according to Nasdaq.com.

What Trump said

Speaking to reporters, Trump said: "I did speak to him today just to see if he's feeling all right," and, recounting the call, "Did you have any idea that she was a spy? He said, 'I had no idea that she was a spy.' And I really believe him." Those quotes are from Wccftech's account of the briefing. 24/7 Wall St. on Yahoo Finance reports Trump's phrasing as Huang having "absolutely no idea," which is also the wording in the New York Post, BBC and CNBC headlines on the story.

Trump also said he did not know of the allegations when Huang travelled with him to China in May, and that the FBI is looking into it "in connection with something else," without detail. The FBI declined to comment, per 24/7 Wall St.

The number behind the number

Everything we know about the call comes from one person. Neither Huang nor Nvidia has described it publicly, and Nvidia's board inquiry, which it opened on Sunday, is still running. A president's belief is not a finding. The market treated it that way: Monday's close was $178.67, and the stock is now another 6.7% lower on the session.

The chart shows the stock about 30.3% below its October 6 peak. Nasdaq.com lists a 52-week range of $164.27 to $243.37 and a session range of $166.24 to $174.65, so shares are within about 1.5% of the year's low.

Who it hits

Holders of S&P 500 and Nasdaq-100 index funds carry Nvidia as one of their largest positions, so a 6% day in one stock shows up in retirement balances. Options traders face a dense calendar: earnings on November 17 and a closed-door House committee briefing requested for November 18, per our earlier reports. For AI-hardware resellers and data-center builders, the exposure is export policy, which a Democratic Congress arriving in January could tighten regardless of what the White House says.

What we could not confirm

The spy claim is a reported U.S. intelligence assessment that China calls unsubstantiated, and no charge has been made public. We could not open CNN's report of the exchange (blocked), so the quotes rest on Wccftech and 24/7 Wall St. We have not independently seen the White House transcript. The cause of today's drop is not established; we are not attributing it to any single headline. Background: Nvidia stock: what is really going on.

Sources: Wccftech, 24/7 Wall St. via Yahoo Finance, New York Post, BBC and CNBC (headlines), Nasdaq.com quote taken 12:46 PM ET, November 10, 2026 (real-time per Nasdaq; may change). This is market information, not investment advice.