Nvidia falls 8% premarket, and the board has not announced Huang's fate

Nvidia shares were down 8.1% in premarket trading as of 7:05 a.m. ET, CNBC reported. The same report said investors were still waiting on whether the board would remove Chief Executive Jensen Huang.

Nvidia gained 2.9% to $173.73 in Wednesday's regular session, before the ouster report. The S&P 500 rose 1.3% to 7,619.38, and the Nasdaq Composite rose 1.6%.

The Wall Street Journal reported that the board was preparing to oust Huang after two extramarital affairs, including one with a woman it described as a suspected Chinese spy. CNBC said the shares fell in trading after the 4 p.m. ET close, once the Journal's report was out.

The board met Wednesday to decide whether to remove him, CNBC confirmed. Reuters, citing a source familiar with the matter, said Nvidia did not immediately comment.

Reuters called the meeting a sharp shift from Sunday, when the board expressed confidence in Huang and his leadership team. Huang had admitted an affair that day, CNBC reported.

Around 7:05 a.m. ET, Nasdaq-100 futures were down 0.9% from Wednesday's close, and S&P 500 futures were down 0.4%. Dow futures were up 0.02%.

The Wall Street Journal said the fallout from the drop after Wednesday's close dragged Asian stock markets lower. Hong Kong's Hang Seng Index fell 1.3%, Japan's Nikkei 225 fell 0.7%, and South Korea's Kospi fell 0.6%.

The U.S. open turns on whether the board removed him. CNBC's 7:05 a.m. account still called Huang chief executive and described the board as weighing his future. It included no decision and no statement from the company.