off-the-wire

Wall St falls at open as Alphabet results reignite AI spending fears

Kitco Media
By Reuters
Published:
Updated:
Reuters
Wall St falls at open as Alphabet results reignite AI spending fears teaser image

Oct 29 (Reuters) - US stocks opened lower on ​Thursday as Alphabet's ‌results rekindled worries about soaring AI ​costs, while ​investors assessed fresh inflation ⁠data following ​the Federal Reserve's decision ​to keep interest rates unchanged.

The Dow Jones ​Industrial Average (.DJI), ​fell 389.0 points, or 0.74%, ‌to ⁠52,086.13 at the open. The S&P 500 (.SPX),  fell ​44.4 ​points, ⁠or 0.57%, to 7,699.61, while ​the Nasdaq ​Composite (.IXIC), ⁠dropped 348.0 points, or 1.31%, ⁠to ​26,201.823.

Reporting by ​Shashwat Chauhan in Bengaluru; Editing ​by Shilpi Majumdar

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