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Nvidia CEO Jensen Huang has resigned amid controversy over an affair with a suspected Chinese spy and allegations of another extramarital relationship, according to KBS World. The board was reportedly preparing to oust him, with the Wall Street Journal citing people familiar with the matter, and a board meeting was held to decide his future, Korea Times reports. The resignation has sent shares tumbling, with Nvidia shedding about $430 billion in market value over two sessions, and later on track to lose more than $470 billion, Korea Times reports. Nvidia's forward price-to-earnings ratio has fallen to around 12 times, its lowest level in 14 years, Business Korea reports. Bitcoin also fell into the $71,000 range, hitting its lowest level in nearly three months, as the Nvidia shock deepened a selloff, Business Korea reports. A shareholder has sued Nvidia and Huang, accusing them of deceiving investors in responses to media reports about the affair, Korea Times reports. U.S. President Donald Trump said former Apple CEO Tim Cook should replace Huang, calling Cook 'a legend,' Korea Times reports. House Speaker Mike Johnson said there was growing consensus in Congress on limiting chip exports to China after the scandal, Korea Times reports.