A potentially historic drop for Alphabet’s stock drags the US market lower

NEW YORK (AP) — A potentially historic drop for Alphabet’s stock is dragging the U.S. market lower Thursday after the company behind Google and YouTube reported weaker growth for the summer than analysts expected. The report underscored worries about whether all its huge investments in artificial-intelligence technology will pay off.

The S&P 500 fell 0.4% and was on track for its first loss in four days, while the Nasdaq composite tumbled 1.4%. Most of the rest of the stocks on Wall Street were rising, though, and the Dow Jones Industrial Average was down a more modest 0.3%, or 160 points, as of 10 a.m. Eastern time.