Alphabet Plunge Drags Wall Street Lower Despite Strong Q3 GDP

Alphabet shares fell over 10%, dragging the Nasdaq down 1.23% and the S&P 500 0.30% despite stronger-than-expected U.S. Q3 GDP growth of 3.4% annualized (vs. 3.1% expected) and in-line PCE inflation. The market reaction suggests investor focus on tech earnings and potential regulatory or competitive pressures on Alphabet, overshadowing positive macro data. The divergence between strong growth and equity weakness signals risk-off sentiment in tech, with broader indices showing resilience.

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