Alphabet shares fell 12.64% to close at $283.82 on Thursday, erasing about $499.8 billion in market value after weak third-quarter results, the second-largest single-day market value loss in stock market history. Revenue rose 25% to $127.6 billion but missed Wall Street expectations, while Google Search revenue growth slowed to 12% from 17% in the previous quarter. Capital expenditures reached $51.4 billion in the quarter, and the company expects $195 billion to $205 billion this year, with spending projected to increase significantly in 2027. Google Cloud revenue more than doubled, up 103% to $30.7 billion versus analysts' expectations of $29.2 billion, but CFO Anat Ashkenazi warned that cloud margins could face near-term pressure as the company relies on outside computing capacity. The decline surpassed Alphabet's previous record one-day loss of about $275 billion in July, while Nvidia's loss of about $589 billion in January 2025 remains the largest.
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Related tickers and likely impact
GOOGL
▼ Likely negativeAlphabet Inc. (Class A)
Relevance: high
| Market | US stocks |
|---|---|
| Sector | Communication Services |
| Industry | Interactive Media & Services |
| Market cap | $4.0T |
| Close on 10/29/2026 | 283.75 |
| Change that session | -12.66% |
QQQ
▼ Likely negativeInvesco QQQ Trust
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 715.33 |
| Change that session | -1.42% |
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/29/2026 | 769.53 |
| Change that session | -0.36% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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