Alphabet’s 12% Drop Sends Nasdaq Down 1.4%

Alphabet’s shares fell more than 12 percent, wiping roughly US$480 billion from its market value in a single session. The tech‑heavy Nasdaq slipped 1.4 percent, while the S&P 500 and Dow fell 0.3 percent each. The decline followed Alphabet’s report of weaker advertising and search revenue growth and its announcement of a 2027 capital‑expenditure plan of US$195‑205 billion for 2026, a move that unsettled investors wary of AI‑related returns. European markets had risen earlier, with the ECB keeping rates unchanged after the Fed left borrowing costs flat. The euro fell on Lagarde’s announcement of her February 2027 resignation but rebounded after her press conference. The day’s data showed U.S. Q3 growth at 3.4 percent and PCE inflation at 3.6 percent.