Business · Markets · 3 hrs ago
Wall Street falls as tech results revive doubts about AI returns
US stocks closed lower as investors weighed company results and economic data.
The Nasdaq fell 1.38%, while the S&P 500 slipped 0.30% and the Dow Jones lost 0.25%.
Quarterly results renewed doubts about returns on AI investment, weighing particularly on technology shares.
Economic figures pointed to stronger activity in the United States, but also to inflation remaining elevated.
The data added to concerns about a split between growth driven by AI and consumer spending.
European and Mexican stock markets mostly rose, in contrast with the losses in the United States.
Wall Street’s major indexes closed lower on Thursday as technology results renewed doubts about returns from artificial intelligence investment.
The Nasdaq fell 1.38%, while the S&P 500 lost 0.30% and the Dow Jones fell 0.25%.
Alphabet shares plunged after the company announced higher investment and cash spending, and its results heightened concern about AI returns.
Investors also assessed US economic data indicating stronger growth and continued inflationary pressure.
European indexes mostly rose, while Spain’s Ibex 35 fell 0.14%.
- Who
- US stock-market investors and major US indexes, including the Nasdaq, S&P 500 and Dow Jones.
- What
- Wall Street closed lower as technology results revived concerns about returns on AI investment.
- When
- Thursday, October 29, 2026.
- Where
- Wall Street, United States.
- Why
- Investors were concerned about technology companies’ investment spending and whether it would produce sufficient returns.
This story does not have two clearly opposing sides.
The Federal Reserve kept interest rates unchanged.
The European Central Bank also kept interest rates unchanged.
Alphabet shares fell sharply after the company announced increased investment and cash spending.
Wall Street’s main indexes closed lower, with the Nasdaq down 1.38%.
- Nasdaq
- Fell 1.38% to 26,184.73
- S&P 500
- Fell 0.30% to 7,720.39
- Dow Jones
- Fell 0.25% to 52,342.56
- Alphabet
- Shares fell 12.64%, according to Cinco Días
- US growth
- 3.4% in the third quarter, according to Cinco Días
4 sources
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What people are saying
It was another solid round of economic data showing ongoing inflationary pressures and growth divided between AI development and consumption.
Expectations were already extremely high, so in a way, simply meeting them is no longer enough.
Unless companies can demonstrate earnings growth above those very high expectations, their shares may fall when they report results.