Google stock price tanks over 8% on traffic drop testimony

Google parent Alphabet’s shares fell over 8% after Apple executive Eddy Cue said that the company is “actively looking” at adding artificial intelligence-powered search options to its Safari browser. This could potentially deal a big blow to Google’s dominance of the lucrative search market.

At 2:52 PM ET, shares of Google were down 8.8%, wiping off over $150 billion from Alphabet’s market value. Apple stock also fell after Cue said searches on Safari fell for the first time last month due to users increasingly turning to AI, a Reuters report said.