In brief
The Dow dipped 132 points, the S&P 500 fell 23 points and the Nasdaq slid more than 365 points on a Thursday trading day, driven largely by Alphabet’s 12% drop. Oil prices eased while companies like Microsoft and Caterpillar fell, whereas Eli Lilly rose after revising its outlook. Reports from Xinhua confirm the figures; other sources were inaccessible.
U.S. stocks fell Thursday, Oct. 29, after tech giant Alphabet plunged more than 12% and joined a chorus of AI‑spending worries that rattled the market.
Dow Jones Industrial Average slipped 132.54 points to 52,342.56, while the S&P 500 dropped 23.59 points to 7,720.39. The Nasdaq Composite shed 365.13 points to 26,184.72, its largest single‑day point loss on record for the index.
Oil prices eased; Brent crude futures settled at $114.88 a barrel, down 44¢, and West Texas Intermediate settled at $102.00, down 78¢. The decline was attributed in part to renewed hope for U.S.–Iran peace talks, which offset concerns about Middle East supply disruptions.
Alphabet’s shares dropped after reporting a third‑quarter revenue of $127.58 billion, up 25 % YoY but lower than analysts had forecast, and a net income of $26.17 billion; the company logged negative free cash flow of $9.07 billion. Microsoft edged lower despite Azure cloud’s 48 % growth, while Caterpillar fell over 9% and weighed on the Dow. ServiceNow plunged about 27 %, Marvell fell 13 %. Eli Lilly gained more than 6 % after raising its revenue outlook; Amazon and Intel fell ahead of their earnings releases.
Confirmed Developments
All figures above are confirmed by Xinhua coverage of the market close. No alternative estimates or contradictory reports were available.
Unconfirmed
No unconfirmed data were reported in the article; other referenced sources yielded 404 errors and cannot be verified.
