The tech-heavy Nasdaq index dipped 0.7% shortly after market open. Leading the losses was an 8% drop for Google parent Alphabet, a slide which erased as much as $211 billion in market value after the company’s earnings report revealed weaker Q4 revenues than consensus analyst forecasts and far higher 2025 spending guidance than anticipated,

Follow all the latest U.S. market action for Wednesday here as Big Tech stocks again come under pressure on capex concerns.

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US stocks opened lower Wednesday as the Nasdaq and S&P 500 felt impact from Alphabet, AMD and renewed AI worries.