Stan Choe

October 30, 2026 — 5:18am

A potentially historic drop for Alphabet’s stock is dragging the US market lower after the company behind Google and YouTube reported weaker growth than analysts expected. The report underscored worries about whether all its huge investments in artificial-intelligence technology will pay off.

The S&P 500 fell 0.5 per cent and was on track for its first loss in four days, while the Nasdaq composite tumbled 1.5 per cent. Most of the rest of the stocks on Wall Street were rising, though, and the Dow Jones Industrial Average was down 0.5 per cent, or 263 points, in mid-afternoon trade.

Alphabet’s drop sent Wall Street’s benchmark index into the red. AP

The Australian sharemarket is set to rise, with futures at 4.41am AEDT pointing to a gain of 12 points or 0.1 per cent at the open. The ASX added 0.5 per cent on Thursday.…