FMC plunges 33% on lower quarterly earnings projection

Uber declines after directing 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 prices)

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 earnings and large investments into expert system dissatisfied financiers, while a multitude of earnings added to the volatility.

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

"The marketplace has some evidence to recommend that there are other companies that potentially doing it more affordable, much better, much faster, quicker," said Dave Grecsek, handling director in planning strategy and research study at Aspiriant.

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

AI-related stocks were rocked last week following the skyrocketing appeal of an inexpensive Chinese synthetic intelligence model developed by start-up

DeepSeek

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

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

On the data front, U.S. services sector activity suddenly slowed in January amidst cooling demand, helping curb cost development, a reading from the Institute for Supply Management revealed.

Private payrolls rose by 183,000 jobs last month, compared with an estimated 150,000 boost, wiki.die-karte-bitte.de per economic experts polled by Reuters. The critical January nonfarm payrolls report is expected to be launched on Friday.

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

At 11:33 a.m. ET, the Dow Jones Industrial Average rose 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 the Nasdaq Composite lost 70.17 points, or 0.34%, kenpoguy.com to 19,586.61.

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

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

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

Markets also tried to find advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak with Chinese President Xi Jinping to attempt to defuse a brand-new trade war between the nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, however flagged uncertainty around the effect of brand-new tariffs, immigration, policies and other Trump administration efforts.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer projection first-quarter income below price quotes.

Johnson Controls leapt 11.1% as the building options business named Joakim Weidemanis as president and raised its 2025 profit forecast.

Advancing issues surpassed decliners by a 2.03-to-1 ratio on the NYSE and archmageriseswiki.com by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 brand-new 52-week highs and 12 new lows, while the Nasdaq Composite taped 81 brand-new highs and wiki.snooze-hotelsoftware.de 69 brand-new lows.

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