U.S. stocks are getting absolutely hammered.
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老腊肉-kevin
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#美国中期选举倒计时，美股博弈窗口已开启？ U.S. stock market news analysis: Google loses $500 billion overnight—what exactly is the market afraid of?
First, a quick temperature check on last night's market: the Nasdaq fell 1.38%, the S&P 500 fell 0.30%, and the Dow fell 0.25%. Mild on the surface, but beneath it, things were brutal.
A look at the trading-volume rankings shows Google-A in first place, plunging 12.64% on $39.427 billion in trading volume. It was the stock's biggest one-day drop since its 2004 listing, wiping nearly $500 billion off its market cap in a single day—the second-largest single-day loss in U.S. stock market history. Google-C came in second, down 12.29% on $25.986 billion in trading volume. Both share classes took a beating.
The stocks that followed weren't faring much better: Amazon fell 4.25% on $19.609 billion in trading volume; Micron fell 4.98% on $20.51 billion; Nvidia fell 0.80% on $16.174 billion; and Microsoft fell 0.16% on $20.71 billion. After the bell, reports also emerged that Microsoft plans to issue at least $25 billion in debt.
The key takeaway from the news is simple:
Google missed Q3 revenue and EPS estimates, and its free cash flow turned negative by $9.07 billion. Its capital expenditure guidance remained unchanged, with spending expected to “increase significantly” again in 2027. On the earnings call, the company acknowledged that AI search monetization is still weak and that TPU inventory is weighing on cash flow, while touting 2027 as a “golden year for AI productivity.” Does the market believe it? The price action has already answered: get out first, ask questions later.
This isn't the collapse of the AI narrative; the market is starting to charge interest on “spending money to buy growth.” The biggest names dominate the trading-volume rankings, but the tide is turning. The companies whose cash flows run dry first will be the last ones entitled to talk about the next wave. $SOXL $KORU $GOOGL
First, a quick temperature check on last night's market: the Nasdaq fell 1.38%, the S&P 500 fell 0.30%, and the Dow fell 0.25%. Mild on the surface, but beneath it, things were brutal.
A look at the trading-volume rankings shows Google-A in first place, plunging 12.64% on $39.427 billion in trading volume. It was the stock's biggest one-day drop since its 2004 listing, wiping nearly $500 billion off its market cap in a single day—the second-largest single-day loss in U.S. stock market history. Google-C came in second, down 12.29% on $25.986 billion in trading volume. Both share classes took a beating.
The stocks that followed weren't faring much better: Amazon fell 4.25% on $19.609 billion in trading volume; Micron fell 4.98% on $20.51 billion; Nvidia fell 0.80% on $16.174 billion; and Microsoft fell 0.16% on $20.71 billion. After the bell, reports also emerged that Microsoft plans to issue at least $25 billion in debt.
The key takeaway from the news is simple:
Google missed Q3 revenue and EPS estimates, and its free cash flow turned negative by $9.07 billion. Its capital expenditure guidance remained unchanged, with spending expected to “increase significantly” again in 2027. On the earnings call, the company acknowledged that AI search monetization is still weak and that TPU inventory is weighing on cash flow, while touting 2027 as a “golden year for AI productivity.” Does the market believe it? The price action has already answered: get out first, ask questions later.
This isn't the collapse of the AI narrative; the market is starting to charge interest on “spending money to buy growth.” The biggest names dominate the trading-volume rankings, but the tide is turning. The companies whose cash flows run dry first will be the last ones entitled to talk about the next wave. $SOXL $KORU $GOOGL
