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FMC plunges 33% on lower quarterly earnings projection

Uber declines after directing Q1 bookings listed below quotes

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Indexes: Dow up 0.15%, library.kemu.ac.ke S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon rates)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and wavedream.wiki the Nasdaq slipped on Wednesday, with Alphabet the biggest drag after the tech giant's ugly cloud income and large financial investments into synthetic intelligence disappointed investors, while a variety of earnings 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 its AI buildout this year.

"The market has some proof to suggest that there are other business that perhaps doing it more affordable, better, quicker, quicker," said Dave Grecsek, managing director in preparation method and research study at Aspiriant.

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

AI-related stocks were rocked recently following the skyrocketing popularity of a low-priced Chinese artificial intelligence model developed by startup

DeepSeek

. Nvidia, one of the companies that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, meanwhile, lost 8.9% after CEO Lisa Su said the business's current-quarter information center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity unexpectedly slowed in January amidst cooling demand, helping curb rate development, 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 anticipated to be released on Friday.

Shares of Apple relieved 1.2% as Bloomberg News reported that China's antitrust regulator was getting ready for morphomics.science 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, yogicentral.science the S&P 500 lost 4.37 points, or e.bike.free.fr 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, wavedream.wiki to 19,586.61.

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

Uber Technologies dropped 7.2% after the ride-hailing business forecast current-quarter reservations listed below price quotes.

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

Markets also searched for advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak to Chinese President Xi Jinping to attempt to pacify a new trade war in between the countries.

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

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

Johnson Controls leapt 11.1% as the building solutions business named Joakim Weidemanis as primary executive officer and raised its 2025 earnings projection.

Advancing concerns 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 published 27 brand-new 52-week highs and 12 new lows, while the Nasdaq Composite taped 81 brand-new highs and 69 new lows.

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

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