Wall St falls at open as Alphabet results reignite AI spending fears
SPY•U.S. stocks opened lower after Alphabet’s results rekindled worries about AI costs, as investors assessed fresh inflation data after the Federal Reserve held rates unchanged. The Dow fell 0.74%, the S&P 500 fell 0.57% and the Nasdaq dropped 1.31%.
1. Stocks open lower
U.S. stocks opened lower on Thursday as Alphabet’s results rekindled worries about soaring AI costs, while investors assessed fresh inflation data following the Federal Reserve’s decision to keep interest rates unchanged. At the open, the Dow fell 389 points, or 0.74%, to 52,086.13; the S&P 500 fell 44.4 points, or 0.57%, to 7,699.61; and the Nasdaq dropped 348 points, or 1.31%, to 26,201.823.
