Alphabet's record drop wipes $500 billion from US stock markets

handelsblatt.com (German) —

US stocks fell Thursday as disappointing quarterly results from Google-parent Alphabet triggered a massive selloff, erasing nearly $500 billion in market value despite robust US economic data. Alphabet shares plunged 12.64 percent, its worst day ever, cutting its market value to $3.47 trillion. Intel and Amazon also dropped after weak earnings reports, while major US indices closed lower. The loss marks the second-largest single-day market value decline ever, behind Nvidia's nearly $600 billion drop earlier this year. Stronger US growth data failed to boost investor confidence.


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