US Stocks Fall as Alphabet Drop Revives AI Concerns
US stock indices declined on Thursday as a record drop in Alphabet shares following earnings reports revived investor concerns over heavy artificial intelligence spending. Communication services fell sharply while broader markets digested mixed economic data and Federal Reserve policy updates.
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The major United States stock indices fell Thursday despite economic growth data, driven by a record drop in Alphabet Inc. Class A shares. The sell-off outpaced gains in healthcare stocks and lower bond yields. The decline revived investor anxiety over the soaring costs of artificial intelligence infrastructure.
