Alphabet shares fell more than 12% on Thursday, erasing about $500 billion in market value in the company's worst-ever stock-market day, according to Sky News. The drop followed disappointing search advertising results and disclosure that AI search summaries and AI mode were hurting traditional search, intensifying investor concerns about the company's AI spending and its core business.
WHO:
Alphabet
WHAT:
Alphabet shares fell more than 12%, wiping about $500 billion from the company's market value.
WHEN:
Oct 29, 2026
WHERE:
USA
WHY:
Disappointing search advertising results and the disclosed effect of AI features on traditional search heightened investor concerns about Alphabet's core business and AI investment.
How this story developed (showing 2 of 2 earlier reports)
