Wall Street's Friday rally fizzles as Nasdaq 100 drops 2.15%

The Nasdaq 100 sank 2.15% by 10:27 am ET, erasing an early rally. The S&P 500 dropped 1.11% and the Dow Jones fell 0.45% at the same time. The euro traded 0.12% below the dollar, going for 1.10437 at 10:28 am ET.

It looked very different at the opening bell. The Dow gained 0.37%, the S&P 500 rose 0.34% and the Nasdaq 100 stood flat, while Alphabet's Class A shares jumped 2.02%. Nvidia traded 0.62% higher. Premarket had been even brighter: Nvidia climbed 2.14%, selling for $169.74 a share at 8:42 am ET, and the Dow rose 0.61%, or 317 points.

Friday's early optimism came from the October producer price index, which rose 0.3% on a monthly basis — less than analysts had projected, according to Breaking The News.

The week's turbulence still runs through Nvidia. CEO Jensen Huang stepped down after reports of an extramarital affair with an alleged Chinese spy, and Thursday's close was ugly: Nvidia fell 4.34%, the Nasdaq 100 shed 0.30%, the Dow lost 0.36% and Nebius tanked 16.84%. Reports also claimed companies tied to the alleged spy were looking to supply DeepSeek with banned Blackwell chips, while another report alleged Huang had an affair with a third woman, according to Breaking The News.

There's a launch on deck too: SpaceX's Starship Flight 15 is scheduled to lift off after the closing bell.