FMC plunges 33% on lower quarterly income projection

Uber declines after guiding Q1 bookings listed below price quotes

*

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 most significant drag after the tech giant's ugly cloud profits and significant financial investments into synthetic intelligence dissatisfied financiers, while a multitude of revenues included to the volatility.

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

"The market has some evidence to suggest that there are other companies that potentially doing it more affordable, better, 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 recently following the skyrocketing appeal of an affordable Chinese expert system model established by start-up

DeepSeek

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

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

On the information front, U.S. services sector activity suddenly slowed in January amidst cooling need, helping curb price growth, asteroidsathome.net a from the Institute for Supply Management revealed.

Private payrolls rose by 183,000 jobs last month, compared with an approximated 150,000 increase, per economists polled by Reuters. The necessary January nonfarm payrolls report is expected to be launched on Friday.

Shares of Apple eased 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 increased 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 business anticipated current-quarter bookings below quotes.

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

Markets likewise searched for advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no hurry to speak to Chinese President Xi Jinping to try to defuse a new trade war between the countries.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, but flagged uncertainty around the impact of brand-new tariffs, migration, regulations and other Trump administration initiatives.

Among top movers, FMC Corp plunged 33.6% after the agrichemicals producer projection first-quarter revenue below estimates.

Johnson Controls leapt 11.1% as the structure options business called Joakim Weidemanis as president and wavedream.wiki raised its 2025 profit projection.

Advancing problems outnumbered 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 published 27 brand-new 52-week highs and demo.qkseo.in 12 brand-new lows, wiki-tb-service.com while the Nasdaq Composite taped 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)