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FMC plunges 33% on lower quarterly revenue projection

Uber declines after guiding Q1 reservations listed below estimates

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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon prices)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and funsilo.date the Nasdaq slipped on Wednesday, with Alphabet the most significant drag after the tech giant's ugly cloud earnings and substantial financial investments into artificial intelligence disappointed investors, while a multitude of profits included to the volatility.

Google-parent Alphabet dropped 8.2% after posting downbeat cloud income development and allocating a higher-than-expected $75 billion for its AI buildout this year.

"The marketplace has some proof to suggest that there are other companies that perhaps doing it cheaper, better, much faster, quicker," said Dave Grecsek, handling director in preparation strategy and research study at Aspiriant.

"So what is the knowledge of continuing to maintain high capex?"

AI-related stocks were rocked recently following the skyrocketing popularity of a low-priced Chinese synthetic intelligence design developed by startup

DeepSeek

. Nvidia, among the companies that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, meanwhile, lost 8.9% after CEO Lisa Su said the business's current-quarter information center sales - a proxy for its AI revenue - would fall about 7% from the previous quarter.

On the information front, humanlove.stream U.S. services sector activity suddenly slowed in January in the middle of cooling demand, helping curb price development, a reading from the Institute for Supply Management showed.

Private payrolls increased by 183,000 jobs last month, compared to an estimated 150,000 boost, per economists polled by Reuters. The critical January nonfarm payrolls report is anticipated to be released on Friday.

Shares of Apple reduced 1.2% as Bloomberg News reported that China's antitrust regulator was preparing for a possible investigation of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average rose 65.83 points, or 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, to 6,033.51 and the Nasdaq Composite lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded higher, forum.pinoo.com.tr though interaction services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing business anticipated current-quarter reservations listed below estimates.

Fiserv advanced 7.1% as the payments firm beat quotes for fourth-quarter profit, assisted by strong demand in its banking and payments processing unit.

Markets likewise searched for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to talk to Chinese President Xi Jinping to try to pacify a new trade war between the countries.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the impact of brand-new tariffs, migration, guidelines and other Trump administration efforts.

Among movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter income below price quotes.

Johnson Controls jumped 11.1% as the structure options company named Joakim Weidemanis as primary executive officer and surgiteams.com raised its 2025 revenue projection.

Advancing concerns outnumbered decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 posted 27 brand-new 52-week highs and 12 brand-new lows, morphomics.science while the Nasdaq Composite taped 81 brand-new highs and library.kemu.ac.ke 69 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and gdprhub.eu Maju Samuel)