The Nasdaq 100 opened 1.3% lower after Alphabet and Microsoft reported capital spending below expectations, fueling investor concerns about AI spending. Alphabet also reported weaker-than-expected revenue from its core business; its cloud revenue doubled, but investors worried that AI could undermine its search-ad business.
WHO:Investors sold U.S. technology stocks after results from Alphabet and Microsoft.
WHAT:The Nasdaq 100 opened 1.3% lower after Alphabet and Microsoft reported lower-than-expected capital spending.
WHEN:Reported Oct 29, 2026 at 9:36 AM ET
WHERE:USA
WHY:Investors were concerned about AI-related spending and the possibility that AI could weaken Alphabet's ability to earn money from search.
Reporting from 3 identified publishers across this event arc.
