Nvidia and Boeing stocks are falling hard on Friday, May 15, 2026 — and that should confuse anyone watching the headlines. The Trump-Xi summit in Beijing just wrapped up. Deals were announced. Boeing secured a 200-plane order, possibly expandable to 750 aircraft. Nvidia got cleared for H200 chip exports. By any surface reading, that's good news. Yet Nvidia stock crashed 3.83%, shedding $9.02 to $226.72. Boeing slid another 2.86%, losing $6.56 to $222.65. The PHLX Semiconductor Index collapsed 3.55%, wiping out 428 points. Markets aren't broken. They're telling you something the headlines aren't.
The market's reaction to the China summit reveals one of the most important truths in investing — that price reflects expectation, not news. Both Nvidia and Boeing had been bid up aggressively ahead of the summit on the assumption of landmark deals.
