On November 10, U.S. stock indices declined following higher-than-expected October inflation data and concerns about potential rate hikes, with the Federal Reserve Vice Chair Christopher Waller signaling a possible 50 basis-point increase in December. Nvidia shares fell 5.5% to $168.89, allowing Microsoft to surpass it in market capitalization for the first time since June 2025, making Microsoft the world's second-largest company after Apple.
In contrast, Taiwan Semiconductor Manufacturing Company (TSMC) ADR rose 2% to $396.48, buoyed by record October revenue and the board's approval to increase Q3 cash dividends to 9 New Taiwan Dollars per share, marking a new single-quarter dividend high.