FMC plunges 33% on lower quarterly income projection

Uber declines after assisting Q1 reservations below estimates

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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon prices)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) –

The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant’s ugly cloud income and substantial financial investments into artificial intelligence dissatisfied investors, while a multitude of incomes contributed to the volatility.

Google-parent Alphabet dropped 8.2% after publishing downbeat cloud profits growth and allocating a higher-than-expected $75 billion for bybio.co its AI buildout this year.

«The marketplace has some proof to suggest that there are other business that possibly doing it less expensive, much better, faster, quicker,» said Dave Grecsek, handling director in preparation strategy and research at Aspiriant.

«So what is the knowledge of continuing to maintain high capex?»

AI-related stocks were rocked last week following the soaring popularity of an affordable Chinese expert system design developed by start-up

DeepSeek

. Nvidia, archmageriseswiki.com among the companies that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, meanwhile, drapia.org lost 8.9% after CEO Lisa Su said the company’s current-quarter information center sales – a proxy for its AI earnings – would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity suddenly slowed in January amidst cooling demand, helping curb price growth, a reading from the Institute for Supply Management revealed.

Private payrolls rose by 183,000 tasks last month, compared with an estimated 150,000 increase, per economists surveyed by Reuters. The necessary January nonfarm payrolls report is expected to be launched on Friday.

Shares of Apple eased 1.2% as Bloomberg News reported that China’s antitrust regulator was preparing for a possible examination of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average increased 65.83 points, or 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded greater, though communication services’ over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing company anticipated current-quarter reservations listed below estimates.

Fiserv advanced 7.1% as the payments firm beat estimates for fourth-quarter earnings, assisted by strong demand in its banking and payments processing unit.

Markets likewise searched for advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak with Chinese President Xi Jinping to try to pacify a new trade war between the nations.

Richmond Fed Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the effect of new tariffs, immigration, guidelines and other Trump administration efforts.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter income listed below quotes.

Johnson Controls leapt 11.1% as the structure solutions business named Joakim Weidemanis as chief executive officer and yewiki.org raised its 2025 profit projection.

Advancing problems surpassed decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 posted 27 new 52-week highs and 12 brand-new lows, while the Nasdaq Composite tape-recorded 81 brand-new highs and 69 brand-new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and oke.zone Maju Samuel)