FMC plunges 33% on lower quarterly forecast

Uber declines after guiding Q1 bookings below estimates

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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon costs)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and the Nasdaq slipped on Wednesday, with Alphabet the greatest drag after the tech giant's ugly cloud revenue and large financial investments into expert system disappointed financiers, while a slew of revenues contributed to the volatility.

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

"The market has some evidence to recommend that there are other companies that potentially doing it less expensive, better, quicker, quicker," said Dave Grecsek, managing director in preparation strategy and research study at Aspiriant.

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

AI-related stocks were rocked recently following the soaring appeal of a low-cost Chinese expert system design developed by start-up

DeepSeek

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

Advanced Micro Devices, on the other hand, wiki.rolandradio.net lost 8.9% after CEO Lisa Su said the company's current-quarter data center sales - a proxy for its AI earnings - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity suddenly slowed in January amid cooling need, assisting curb price growth, a reading from the Institute for Supply Management showed.

Private payrolls rose by 183,000 tasks last month, compared to an approximated 150,000 boost, per economists surveyed by Reuters. The necessary January nonfarm payrolls report is anticipated to be released on Friday.

Shares of Apple relieved 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%, to 19,586.61.

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

Uber Technologies dropped 7.2% after the ride-hailing company anticipated current-quarter reservations below quotes.

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

Markets also looked for developments on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak to Chinese President Xi Jinping to attempt to pacify 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 impact of new tariffs, oke.zone migration, regulations and other Trump administration initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer projection first-quarter profits below quotes.

Johnson Controls leapt 11.1% as the structure solutions company named Joakim Weidemanis as chief executive officer and raised its 2025 earnings projection.

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

The S&P 500 posted 27 new 52-week highs and vmeste-so-vsemi.ru 12 brand-new lows, yogicentral.science while the Nasdaq Composite recorded 81 brand-new highs and 69 brand-new lows.

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