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FMC plunges 33% on lower quarterly revenue projection

Uber decreases after assisting Q1 bookings listed below estimates

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Indexes: Dow up 0.15%, 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 the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant's ugly cloud income and large financial investments into expert system disappointed financiers, while a variety of to the volatility.

Google-parent Alphabet dropped 8.2% after posting downbeat cloud income development and allocating a higher-than-expected $75 billion for its AI buildout this year.

"The marketplace has some evidence to suggest that there are other business that perhaps doing it cheaper, much better, faster, quicker," said Dave Grecsek, managing director in planning technique and research at Aspiriant.

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

AI-related stocks were rocked recently following the skyrocketing appeal of an inexpensive Chinese expert system model developed by startup

DeepSeek

. Nvidia, among the business 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 data center sales - a proxy for its AI revenue - would fall about 7% from the previous quarter.

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

Private payrolls rose by 183,000 tasks last month, compared to an approximated 150,000 boost, per economists surveyed by Reuters. The necessary January nonfarm payrolls report is anticipated to be released on Friday.

Shares of Apple reduced 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 tandme.co.uk the Nasdaq Composite lost 70.17 points, or championsleage.review 0.34%, 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 company forecast current-quarter bookings below estimates.

Fiserv advanced 7.1% as the payments firm beat price quotes for fourth-quarter earnings, helped by strong need in its banking and payments processing unit.

Markets likewise tried to find developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak to Chinese President Xi Jinping to attempt to pacify a brand-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 brand-new tariffs, gdprhub.eu migration, regulations and other Trump administration efforts.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals producer projection first-quarter profits below price quotes.

Johnson Controls leapt 11.1% as the structure options company called Joakim Weidemanis as president and raised its 2025 profit forecast.

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 new highs and 69 new lows.

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