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FMC plunges 33% on lower quarterly revenue forecast

Uber declines after assisting Q1 bookings listed below price quotes

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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 the Nasdaq slipped on Wednesday, with Alphabet the most significant drag after the tech giant's dour cloud income and substantial financial investments into artificial intelligence disappointed financiers, while a multitude of incomes added to the volatility.

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

"The marketplace has some evidence to suggest that there are other business that perhaps doing it cheaper, better, faster, quicker," said Dave Grecsek, managing director in planning technique and research study at Aspiriant.

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

AI-related stocks were rocked recently following the soaring popularity of a low-priced Chinese expert system model established by start-up

DeepSeek

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

Advanced Micro Devices, on the other hand, lost 8.9% after CEO Lisa Su said the company's current-quarter data center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the information front, morphomics.science U.S. services sector activity unexpectedly slowed in January in the middle of cooling demand, helping curb rate development, setiathome.berkeley.edu a reading from the Institute for Supply Management showed.

Private payrolls rose by 183,000 tasks last month, compared to an estimated 150,000 boost, per economists polled by Reuters. The necessary January nonfarm payrolls report is anticipated to be launched on Friday.

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

At 11:33 a.m. ET, the Dow Jones Industrial Average increased 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 higgledy-piggledy.xyz the Nasdaq Composite lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded greater, though communication services' over 3% fall obscured gains.

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

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

Markets also tried to find advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak to Chinese President Xi Jinping to try to defuse a brand-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 effect of new tariffs, migration, policies and other Trump administration initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter revenue below estimates.

Johnson Controls jumped 11.1% as the structure services business named Joakim Weidemanis as ceo and morphomics.science raised its 2025 earnings projection.

Advancing issues 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 new 52-week highs and 12 brand-new lows, while the Nasdaq Composite recorded 81 brand-new highs and 69 lows.

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