Stock Market Today: Alphabet, ServiceNow and Fortinet Sink as Losses Stay Concentrated

U.S. stocks finished lower Thursday, October 29, but the session was not a broad selloff. The S&P 500 fell 0.3%, the Nasdaq Composite dropped 1.4%, and the Dow lost 0.3%. About four out of five S&P 500 stocks rose, according to the Associated Press market recap. Large declines in a handful of heavily weighted and earnings-sensitive stocks pulled the major indexes down.

The biggest widely followed drops#

Regular-session declines were led by company results, outlooks and trial news. A liquid-stock screen also showed larger moves in biotech names. Percentages below are rounded; the after-hours moves are shown separately because they happened after the 4 p.m. close.

The session's largest declines had different explanations. They should not be read as a single sector-wide signal. Iovance reported a 24.6% response rate across 69 patients in its Phase 2 lung-cancer study, with stronger results in a retrospectively defined subgroup; read the separate Iovance story for what that subgroup does and does not show. Alnylam reported 52% growth in net product revenue but said it expected TTR sales near the low end of its annual range; the Alnylam story covers its access and patient-start comments. Sprouts cited a challenging consumer backdrop and a product disruption while reporting negative comparable-store sales and a lower full-year outlook; see the Sprouts report. Xerox's outlook and dividend update are detailed in the XRX story, and Titan's demand and earnings figures are in the TWI story.

Alphabet led the index pressure#

Alphabet shares dropped 12.6% after its third-quarter report, their worst session since the shares began trading, AP reported. Revenue still grew 25% year over year, and Google Cloud revenue more than doubled, but total revenue was slightly below analyst expectations. Earnings per share also came in below estimates, partly reflecting an $8.7 billion investment loss. Spending on property and equipment exceeded $51 billion, sharpening questions about the cost and return of the AI buildout. See the separate Alphabet earnings story.

The software and cybersecurity declines had separate company-specific catalysts. ServiceNow shares fell about 27% as investors assessed its fourth-quarter contract outlook; Fortinet dropped about 21% after lowering its projected 2026 service-revenue range. Read the ServiceNow and Fortinet stories for the companies' reported figures. Dell's 3.7% decline was more in line with the broader technology weakness and had no clearly established same-day company-specific trigger. The Dell story covers that distinction.

After-hours trading added another earnings wave#

Amazon and Reddit both fell during regular trading and then moved lower after publishing results. Amazon's shares were down more than 5% in the first after-hours reaction reported by AP. Its revenue and earnings per share missed analysts' estimates, free cash flow was negative $42.4 billion for the trailing twelve months, and its holiday-quarter sales outlook was cautious. AWS revenue, meanwhile, grew 39.3% year over year. Read the Amazon earnings story.

Reddit's Q3 revenue and profit grew sharply, but its fourth-quarter revenue forecast was below the cited analyst consensus; shares fell about 17% in an after-hours snapshot. Intel also fell more than 20% after its Q4 forecast, with the company citing a factory disruption in Israel and a weak PC market. Those post-market prices can change before the next session. The Reddit story separates its regular-session close from the earnings reaction, and the Intel story separates its regular-session move from the after-hours reaction.

For a continuously updated list of daily decliners, see TickerPosts' top losing stocks page. The page ranks percentage moves; a ranking does not explain a company's business or establish why its shares moved.

Published October 29, 2026. Market prices are time-sensitive. This report is informational and is not investment advice.