Google loses $200 billion-plus in market value; biggest-ever single-day decline

Google parent Alphabet stock tumbled in early Wednesday trading after earnings from the owner of Google beat Wall Street expectations but fell short on revenue. The tech-heavy Nasdaq index dipped 0.7% shortly after market open. Leading the losses was an 8% drop for Google parent Alphabet, a slide which erased as much as $211 billion in market value. Alphabet stock saw its biggest percentage loss since October 2023. The fall is also reported to be the largest one-day decline in value for the company.

Alphabet shares in midday trades were off 7.6% at $190.70 and closed around $193.