US Equity Markets End Lower After Unexpected Drop in Alphabet's Earnings Leads Decline in Major Tech Stocks

04:15 PM EDT, 10/29/2026 (MT Newswires) -- US equity indexes ended lower Thursday after a sharp sell-off in Alphabet's (GOOG, GOOGL) shares weighed on the technology and communications sectors. * Alphabet led decliners among the mega-caps, with shares down roughly 13% after Q3 earnings unexpectedly fell from a year ago and revenue missed estimates. The Google search engine owner was also among the worst performers on the S&P 500, the Nasdaq, and the Dow. * The personal consumption expenditures price index grew 0.5% in September, as expected, lifting the year-over-year rate to 3.6% from 3.4%, according to the Bureau of Economic Analysis. * US gross domestic product rose 3.4% in Q3 from 2.2% in Q2, beating the 3.2% increase expected in a Bloomberg-compiled survey. * December West Texas Intermediate crude oil fell $0.30 to $102.48 per barrel, while December Brent crude, the global benchmark, was last seen down $0.14 at $115.18. * Carvana (CVNA) shares were up roughly 16%, the top gainer on the S&P 500, after the company reported higher Q3 results, beating expectations. * ServiceNow (NOW) shares dropped nearly 27%, the worst performer on the S&P 500, after a Q3 non-GAAP earnings miss.