Alphabet stock plunges 13% after earnings, wiping out nearly $500 billion in market value
Alphabet (Google’s parent company) shares fell about 13% on Thursday after the company reported its third-quarter results. The stock was on track for its worst single-day fall since the company went public in 2004.
The sharp fall put nearly $500 billion of Alphabet’s stock market value at risk. This would make it the second-biggest one-day loss in market value for a US-listed company.
