Potentially historic drop for Alphabet's stock drags US market lower

Alphabet shares fell 12.8 percent in the U.S. market Thursday after the company reported weaker summer growth than analysts expected, weighing on major indexes amid concerns about returns on its AI investments. The S&P 500 fell 0.6 percent, the Nasdaq composite dropped 1.6 percent and the Dow lost 269 points, or 0.5 percent. Alphabet’s capital spending exceeded $51 billion, while its free cash flow declined. Treasury yields eased after mixed U.S. economic reports, and overseas markets were mixed.

The S&P 500 was heading toward its first loss in four days, even as most stocks in the index and across Wall Street rose.

KLA Corp. gained 5.1 percent, Eli Lilly rose 6 percent, Mastercard added 4.4 percent and Merck climbed 3.6 percent after reporting stronger summer profits than analysts expected.

DoorDash rose 4.9 percent after agreeing to buy Instacart in a deal valuing it at $17 billion; DoorDash also reported quarterly profit and revenue above analysts’ expectations.

The 10-year Treasury yield fell to 4.98 percent from 5.05 percent late Wednesday, while Brent crude declined 0.8 percent to $110.80 a barrel.

The European Central Bank held interest rates steady, and President Christine Lagarde said she would resign in February, nine months before her term ended. In Asia, the Kospi fell 1.2 percent and Samsung Electronics dropped 4.1 percent despite reporting a jump in profit.

Published Oct 30, 2026 4:38 am KST

Updated Oct 30, 2026 8:05 am KST

A Google logo is displayed at Google's headquarters in New York City, July 1. Reuters-Yonhap

NEW YORK — A potentially historic drop for Alphabet’s stock is dragging the U.S. market lower Thursday after the company behind Google and YouTube reported weaker growth for the summer than analysts expected. The report underscored worries about whether all its huge investments in artificial-intelligence technology will pay off.

The S&P 500 fell 0.6 percent toward its first loss in four days, even though the majority of stocks within the index and across Wall Street were rising. The Nasdaq composite tumbled 1.6 percent, while the Dow Jones Industrial Average fell 269 points, or 0.5 percent.

Alphabet is one of the most influential stocks on Wall Street because it’s one of the largest, and its loss of 12.8 percent had it heading toward its worst day since it began trading more than 20 years ago. The tech giant had been under pressure to at least meet analysts’ expectations for growth amid concerns about how much it’s spending to invest in AI.

Alphabet said late Wednesday that it burned through more cash during the latest quarter, according to a measure called free cash flow, after its purchases of property and equipment topped $51 billion.

Worries are weighing on the entire AI industry following a frenzy to build data centers and fill them with AI chips. Not only are concerns high that the AI revolution may not produce as much profit and productivity as hoped, future spending on data centers is also under pressure because of how expensive it’s become to borrow money to buy more chips.

If not for Alphabet’s drop, the S&P 500 would have been higher for the day.

Several companies rallied after reporting stronger profits for the summer than analysts expected, including KLA Corp. The company, whose equipment helps make semiconductors, rose 5.1 percent.

Eli Lilly climbed 6 percent, Mastercard rose 4.4 percent and Merck added 3.6 percent.

DoorDash rose 4.9 percent after saying it agreed to buy Instacart in a deal valuing it at $17 billion. DoorDash also reported stronger profit and revenue for the latest quarter than analysts expected.

Norwegian Cruise Line Holdings steamed 13.8 percent higher after likewise topping expectations for summertime profit and revenue. It benefited from cruisers spending more money once aboard ships than the company expected, among other things.

Expectations are high for profit growth broadly across U.S. companies. That’s what allowed the S&P 500 to set its record earlier this month despite high interest rates and other worries weighing on the stock market.

In the bond market, Treasury yields eased following several mixed reports on the U.S. economy.

The overall economy’s growth may have accelerated more during the summer than economists expected, thanks to spending by U.S. consumers and businesses investing in AI, according to a preliminary report. But Americans’ growth in incomes was weaker in September than economists expected, while a measure of inflation worsened.

Fewer U.S. workers applied for unemployment benefits last week, meanwhile, which could indicate few layoffs across the country.

Following the jumble of reports, the yield on the 10-year Treasury fell to 4.98 percent from 5.05 percent late Wednesday. It’s been generally pulling back since it topped 5.30 percent earlier this month and touched its highest level since 2002.

Helping to pull yields lower on Thursday was a drop in oil prices. The price for a barrel of Brent crude oil fell 0.8 percent to $110.80.

In stock markets abroad, indexes rose in Europe after the European Central Bank held interest rates steady on the continent. The bank’s president, Christine Lagarde, also said she will resign in February, nine months before the end of her term.

In Asia, indexes were mixed. Korea’s Kospi fell 1.2 percent due to a drop for market heavyweight Samsung Electronics, which sank 4.1 percent even though it reported a jump in profit.

周四，Alphabet股价在美国股市暴跌12.8%，此前该公司公布的夏季增长数据弱于分析师预期，加之市场对其人工智能投资回报的担忧，主要股指承压。标普500指数下跌0.6%，纳斯达克综合指数下跌1.6%，道琼斯指数下跌269点，跌幅0.5%。Alphabet的资本支出超过510亿美元，而其自由现金流却有所下降。受喜忧参半的美国经济数据影响，美国国债收益率有所回落，海外市场涨跌互现。

尽管标普500指数中的大多数股票以及华尔街大部分股票都在上涨，但该指数仍朝着四天来的首次下跌方向发展。

KLA 公司股价上涨 5.1%，礼来公司股价上涨 6%，万事达卡股价上涨 4.4%，默克公司股价上涨 3.6%，此前该公司公布的夏季利润强于分析师预期。

DoorDash 股价上涨 4.9%，此前该公司同意以 170 亿美元的价格收购 Instacart；DoorDash 还公布了季度利润和收入均超出分析师预期的业绩。

周三晚些时候，10 年期美国国债收益率从 5.05% 降至 4.98%，而布伦特原油下跌 0.8% 至每桶 110.80 美元。

欧洲央行维持利率不变，行长克里斯蒂娜·拉加德宣布将于2月辞职，比其任期结束提前9个月。亚洲股市方面，韩国综合股价指数下跌1.2%，三星电子股价下跌4.1%，尽管其利润大幅增长。

发布于2026年10月30日凌晨4:38（韩国标准时间）

更新于2026年10月30日上午8:05（韩国标准时间）

7月1日，谷歌位于纽约市的总部大楼前展示着谷歌的标志。（路透社-韩联社）

纽约——谷歌和YouTube母公司Alphabet周四公布的夏季业绩低于分析师预期，导致其股价可能出现历史性暴跌，拖累美国股市走低。这份报告加剧了人们对该公司在人工智能技术领域巨额投资能否获得回报的担忧。

尽管标普500指数成分股和华尔街整体股票大多上涨，但该指数仍下跌0.6%，接近四天来的首次下跌。纳斯达克综合指数下跌1.6%，道琼斯工业平均指数下跌269点，跌幅0.5%。

Alphabet是华尔街最具影响力的股票之一，因为它也是规模最大的公司之一。该公司股价下跌12.8%，创下20多年来的最大单日跌幅。此前，由于市场对其在人工智能领域的投资规模表示担忧，这家科技巨头一直面临着至少达到分析师预期增长的压力。

Alphabet 周三晚间表示，根据自由现金流指标衡量，该公司在最近一个季度消耗的现金更多，原因是其购买物业和设备的支出超过了 510 亿美元。

在经历了建设数据中心并大量部署人工智能芯片的热潮之后，整个人工智能行业正面临着诸多担忧。人们不仅担心人工智能革命可能无法带来预期的利润和生产力，而且由于借贷购买更多芯片的成本日益高昂，未来在数据中心方面的支出也面临压力。

如果不是 Alphabet 股价下跌，标普 500 指数当天本应走高。

多家公司公布夏季盈利好于分析师预期后股价上涨，其中包括KLA公司。该公司生产的设备有助于半导体制造，股价上涨5.1%。

礼来公司股价上涨 6%，万事达卡股价上涨 4.4%，默克公司股价上涨 3.6%。

DoorDash股价上涨4.9%，此前该公司宣布已同意以170亿美元的价格收购Instacart。DoorDash最新季度的利润和营收也超出分析师预期。

挪威邮轮控股公司股价飙升13.8%，此前该公司公布的夏季利润和收入均超出预期。该公司受益于诸多因素，其中包括邮轮乘客在船上的消费高于预期。

市场普遍预期美国企业盈利增长强劲。正因如此，尽管高利率和其他因素令股市承压，标普500指数本月早些时候仍创下历史新高。

债券市场方面，受几份有关美国经济喜忧参半的报告影响，美国国债收益率有所回落。

初步报告显示，由于美国消费者支出增加以及企业投资人工智能，夏季整体经济增长速度可能超过经济学家预期。但9月份美国人的收入增长低于经济学家预期，同时通胀指标也有所恶化。

与此同时，上周申请失业救济金的美国工人数量减少，这可能表明全国范围内的裁员人数很少。

受一系列消息的影响，10年期美国国债收益率从周三晚间的5.05%跌至4.98%。自本月初突破5.30%并触及2002年以来的最高水平以来，该收益率总体呈回落趋势。

周四，油价下跌是导致收益率走低的原因之一。布伦特原油价格下跌0.8%，至每桶110.80美元。

在欧洲央行宣布维持利率不变后，海外股市指数上涨。欧洲央行行长克里斯蒂娜·拉加德也表示，她将于明年2月辞职，比其任期结束提前九个月。

亚洲股市涨跌互现。韩国综合股价指数（KOSPI）下跌1.2%，主要原因是权重股三星电子股价下跌，尽管该公司公布利润大幅增长，股价仍下跌4.1%。