Alphabet Suffers $758 Billion October Wipeout as 19% Slide Marks Worst Month Since IPO
Updated
Updated · Yahoo Finance · Oct 30
Alphabet Suffers $758 Billion October Wipeout as 19% Slide Marks Worst Month Since IPO
3 articles · Updated · Yahoo Finance · Oct 30
Summary
$758 billion in market value vanished from Alphabet in October, making it the stock's worst month since its 2004 IPO and the second-biggest monthly loss ever for a US-listed company.
A $475 billion one-day drop on Thursday after third-quarter results did most of the damage, and Friday's decline erased the week's earlier rebound, leaving Alphabet down nearly 13% for the week.
The selloff followed investor alarm over Big Tech AI spending and weak cash-flow trends; Alphabet's price-to-earnings ratio has now fallen to its lowest level in more than a decade.
Tech losses spread well beyond Google: SpaceX, Intel and Nvidia each shed more than $100 billion this week, while Intel plunged as much as 30% Friday after a weak outlook.
Not all money left equities—Eli Lilly, Tesla and SK Hynix added more than $300 billion combined—and UBS said volatility should push investors toward broader, more resilient portfolios rather than out of stocks.