FMC plunges 33% on lower quarterly revenue forecast

Uber declines after directing Q1 reservations 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 greatest drag after the tech giant's dour cloud earnings and substantial investments into expert system disappointed investors, while a variety of profits contributed to the volatility.

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

"The market has some proof to suggest that there are other companies that potentially doing it less expensive, much better, quicker, quicker," said Dave Grecsek, handling director in planning 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 skyrocketing appeal of an inexpensive Chinese synthetic intelligence design established by startup

DeepSeek

. Nvidia, one of the business 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 information center sales - a proxy for its AI income - would fall about 7% from the previous quarter.

On the information front, forum.pinoo.com.tr U.S. services sector activity suddenly slowed in January amidst cooling demand, helping curb cost growth, a reading from the Institute for Supply Management showed.

Private payrolls increased by 183,000 jobs last month, compared with an estimated 150,000 increase, per economic experts polled by Reuters. The critical January nonfarm payrolls report is anticipated to be launched on Friday.

Shares of Apple reduced 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%, garagesale.es to 19,586.61.

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

Uber Technologies dropped 7.2% after the forecast current-quarter bookings below estimates.

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

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

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

Among top movers, FMC Corp plunged 33.6% after the agrichemicals producer forecast first-quarter earnings listed below quotes.

Johnson Controls jumped 11.1% as the building services company called Joakim Weidemanis as ceo and raised its 2025 revenue projection.

Advancing issues 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 posted 27 brand-new 52-week highs and 12 brand-new lows, 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)