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FMC plunges 33% on lower quarterly earnings projection

Uber declines after guiding Q1 reservations below estimates

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

(Updates with afternoon rates)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and asystechnik.com the Nasdaq slipped on Wednesday, with Alphabet the most significant drag after the tech giant's dour cloud income and large investments into expert system disappointed investors, while a variety of earnings contributed to the volatility.

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

"The market has some evidence to recommend that there are other companies that potentially doing it more affordable, better, faster, quicker," said Dave Grecsek, managing director in planning strategy and research at Aspiriant.

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

AI-related stocks were rocked recently following the soaring appeal of an inexpensive Chinese artificial 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 profits - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity suddenly slowed in January in the middle of cooling demand, assisting curb rate development, a reading from the Institute for Supply Management revealed.

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

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

At 11:33 a.m. ET, the Dow Jones Industrial Average increased 65.83 points, or 0.15%, archmageriseswiki.com 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, securityholes.science though interaction services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing business forecast current-quarter bookings listed below price quotes.

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

Markets also tried to find 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 attempt to pacify a brand-new trade war in between the nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the effect of brand-new tariffs, pyra-handheld.com migration, guidelines and other initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer forecast first-quarter income listed below estimates.

Johnson Controls leapt 11.1% as the building services business called Joakim Weidemanis as ceo and raised its 2025 revenue projection.

Advancing concerns surpassed 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 published 27 brand-new 52-week highs and 12 brand-new lows, while the Nasdaq Composite recorded 81 brand-new highs and cadizpedia.wikanda.es 69 new lows.

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