Alphabet shares fall as Nasdaq hits 12-week low on tech selloff
The Nasdaq tumbled 1.2% at the open to 22,293.85, marking its lowest level since 21 November and extending its losing streak to potentially six weeks. Alphabet, Microsoft and Amazon all opened in negative territory as AI-related spending concerns weighed on major tech stocks.
1. Market Decline at Open
The Nasdaq Composite opened down 1.2% at 22,293.85, its lowest since 21 November, while the S&P 500 slipped 0.7% and the Dow Jones Industrial Average rose 0.2% on broad market divergence.
2. Decline in Leading Tech Names
Shares of Alphabet, Microsoft and Amazon were among the heaviest fallers on the Nasdaq, contributing to the index’s slide as investors rotated away from major technology names.
3. Investor Concerns over AI Spending
Persistent fears over hefty AI investment budgets, suspended share buybacks and potential dilution from new equity or debt issuance have reignited questions about return on AI spending.
4. Extended Weekly Downtrend
The Nasdaq is on course for a sixth straight weekly loss—its longest stretch since 2022—underscoring mounting selling pressure in AI-related and software equities.