US stocks fell Friday as a sell-off in chip stocks picked up, Nvidia (NVDA) stock continued to decline, and an annual reading of wholesale inflation came in hot.

The Dow Jones Industrial Average (^DJI) edged lower by 0.2%, while the S&P 500 (^GSPC) declined 0.9%. The tech-heavy Nasdaq Composite (^IXIC) fell 1.6%.

Stocks sank amid a series of tremors, from Nvidia CEO Jensen Huang stepping down to elevated oil prices and a sell-off in government bonds.

Nvidia stock turned lower again as the fallout from Huang's affairs continued to unfold, raising the stakes for the company's third quarter earnings next Tuesday. Investors are debating whether the controversy surrounding the chip giant's former leader implicates the wider artificial intelligence boom that Nvidia has played a central role in building.

Chipmaker sector stocks declined, with AMD (AMD) and Broadcom (AVGO) sinking.

Oil prices were little changed, providing some relief after a spike in prices sparked Thursday's sell-off in bonds. As traders braced for an interest rate hike in December, the 10-year Treasury yield (^TNX) reached as high as 5.17% on Friday, its highest level since October.

The setup has pressured bitcoin (BTC), with the world's largest cryptocurrency tumbling below $70,000 Friday for the first time in nearly three months.

In economic news, wholesale inflation rose 0.3% month over month in October, according to the producer price index. The reading was less than the 0.4% economists expected, but the annual rate of 6.5% highlighted persistent inflation pressures, which likely keeps the Federal Reserve on track to hike interest rates next month.