Alphabet Loses $500 Billion Market Cap

Alphabet stock dropped over 10% after Q3 2026 results missed Wall Street estimates, wiping approximately $500 billion from its market capitalisation. Total revenue reached $127.6 billion, while net income fell 25% to $26.2 billion. Free cash flow turned negative $9.1 billion, marking the first time in Alphabet's 22-year history that it burned cash for two consecutive quarters.