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Wall Street ends lower as Alphabet revenue miss revives AI capex jitters

US stocks slid on Thursday, led by a sharp decline in Alphabet's stock price after the company reported disappointing revenue. This sparked concerns about the high spending on artificial intelligence (AI) and its impact on the tech sector. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed lower. Alphabet's stock price plummeted, erasing over $500 billion in market value.

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  • ✓ Alphabet's stock price plunged, erasing over $500 billion in market value.
  • ✓ US stocks slid on Thursday, with investors reassessing big tech.
  • ✓ Alphabet reported disappointing revenue, leading to a sharp decline in its stock price.
🛡️ Source Corroboration: 21 independent reporting domains (85% confidence) ⏱ Read time: ~2 min

What changed

Alphabet's revenue miss and subsequent stock price drop have renewed concerns about AI spending and its impact on the tech sector.

Live updates

  1. Wall Street ends lower as Alphabet revenue miss revives AI capex jitters

    US stocks slid on Thursday, led by a sharp decline in Alphabet's stock price after the company reported disappointing revenue. This sparked concerns about the high spending on artificial intelligence (AI) and its impact on the tech sector. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all closed lower. Alphabet's stock price plummeted, erasing over $500 billion in market value.

    Why it matters

    The significant drop in Alphabet's stock price was triggered by the company's Q3 earnings report, which showed a revenue miss. This has raised concerns about the profitability of AI investments and the potential impact on the broader tech sector. The market has been closely watching the performance of big tech companies, particularly those investing heavily in AI.

    What is confirmed

    • Alphabet's stock price plunged, erasing over $500 billion in market value.
    • US stocks slid on Thursday, with investors reassessing big tech.
    • Alphabet reported disappointing revenue, leading to a sharp decline in its stock price.

    What to watch next

    • Alphabet's future earnings reports
    • Tech sector performance in the coming weeks
    • Developments in AI technology and its adoption
    Sources used for this update (25)
    1. finance.yahoo.com — Yahoo Finance - Stock Market Live, Quotes, Business & Finance News
    2. www.investing.com — Investing.com - Stock Market Quotes & Financial News
    3. www.marketscreener.com — Global Stocks Fall on Higher Oil Prices, AI Pullback | MarketScreener
    4. symbolika.ai — 우크라이나, Yandex 데이터센터 나흘간 세 곳 타격 — Yandex Cloud 비상 모드
    5. CNBC — Alphabet set to report Q3 earnings after the bell as shaky AI trade looks for signs of strength
    6. Bloomberg.com — Alphabet Reports Disappointing Revenue, Income; Shares Drop
    7. www.businesstimes.com.sg — Meta rolls out consumer AI agent in Singapore amid global safety, retail pushback
    8. Reuters — SNAPSHOT US stock index futures pare losses after economic data
    9. NBC News — Google-parent Alphabet’s stock price plunges, erasing more than $500 billion in value
    10. Yahoo Finance — Alphabet heads for a $500 billion drop in market value, the biggest in its history
    11. Yahoo Finance — US Equity Markets End Lower After Unexpected Drop in Alphabet's Earnings Leads Decline in Major Tech Stocks
    12. Forbes — Google’s Larry Page, Sergey Brin Lose Combined $60 Billion As Alphabet Stock Drops
    confidence 85%
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