Акции США и Канады падают на фоне спада Alphabet, возрождая опасения по расходам на ИИ

U.S. equity markets opened lower on Thursday, with the Dow Jones Industrial Average down 389 points (0.74%) to 52,086.13, the S&P 500 down 44.4 points (0.57%) to 7,699.61, and the Nasdaq Composite down 348 points (1.31%) to 26,201.82. The declines followed Alphabet's earnings release, which showed a drop in search advertising revenue and a rise in cash burn linked to artificial-intelligence investments, sending the company's shares down 11.3% in early trading. The slide contributed to a projected loss of more than US$450 billion in market value for Alphabet and accounted for a large share of the over US$660 billion that the Nasdaq-100 could erase if the trend continues.

Canada's S&P/TSX Composite Index fell 0.2% to 36,185.70, pressured by losses in technology and mining stocks. ServiceNow and Fortine posted steep declines after missing profit estimates, while Caterpillar slipped 9.6% after keeping its annual sales forecast unchanged. Eli Lilly rose 4.5% after projecting revenue above Wall Street expectations.

"The positive AI effects must stay intact for years to come, or investors in Alphabet (and other hyperscalers) will eventually re-rate the multiples as the bottom-line profits fade," said Anders Bylund, a technology analyst at The Motley Fool.

Microsoft gained 1.8% after reporting a strong cash-flow beat and forecasting robust cloud growth, though the rally eased after media reports that the company plans to raise at least US$25 billion through a U.S. investment-grade bond sale, its first in more than nine years.

Economic data released on Thursday showed the Personal Consumption Expenditures price index in line with forecasts and indicated faster-than-expected U.S. growth in the third quarter.

"The combination of still very strong and resilient economic growth, together with inflation and prices moving further away from the Fed’s target, reinforce the expectation that October was a skip rather than a hold for the Fed," said Angelo Kourkafas, senior global investment strategist at Edward Jones.

The Federal Reserve kept interest rates unchanged on Wednesday and signaled that any rate adjustments are likely to be postponed until after the upcoming U.S. midterm elections. Market participants anticipate a possible rate hike at the December meeting.

Other notable moves included Marvell Technology falling 11% amid reports of advanced talks to acquire Lumentum Holdings, while Lumentum shares rose 4.1%. Intel and Amazon are slated to report earnings later in the day.