© Reuters.
Alphabet (NASDAQ:) Inc.’s shares experienced a significant drop on Wednesday, falling by 9.51% to $125.61. This unexpected downturn disrupted a two-day growth trend and concluded with the stock trading at $15.61 below its year-high set on October 12, 2023.
In addition to the sharp decrease in share price, Alphabet also saw an unusual surge in trading volume. A total of 83.2 million shares were traded, more than three times its average volume, indicating intense investor activity.
Meanwhile, amidst this market struggle, Microsoft Corp (NASDAQ:). managed to outperform Alphabet. The tech giant’s shares rose by 3.07%, overshadowing the declines of other major players like Amazon (NASDAQ:) and Meta Platforms (NASDAQ:), which fell by 5.58% and 4.17% respectively.
This latest market shift comes as a surprise, given Alphabet’s recent upward trend. However, it remains to be seen how these changes will impact the broader tech sector in the longer term.
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