Nasdaq Slides Over 1% as Alphabet Results Revive AI Cost Fears

The Nasdaq index fell more than 1% on October 29, 2026, after Alphabet's results revived worries about rising AI costs. Alphabet reported third-quarter revenue of $127.6 billion, up 25% but short of the $128.2 billion estimate, and its shares fell sharply. The Nasdaq is weighted toward technology firms, so the drop reaches index funds and retirement accounts tracking it.