Stock Market Update
05-Aug-26 12:25 ET
Alphabet slides amid chief scientist departure
Dow +444.74
at 54530.62,
Nasdaq -99.27
at 26506.74,
S&P +2.08
at 7738.60
[BRIEFING.COM] The major averages remain mixed just after midday.
Alphabet (GOOG 360.04, -15.32, -4.08%) has made a sharp move lower just after midday after The Wall Street Journal reported that Google Chief Scientist Jeff Dean is departing to launch an AI startup focused on scientific discovery.
Combined with an intraday retreat in Meta Platforms (META 583.28, -4.66, -0.79%) and weakness across telecom stocks amid potential future competition from SpaceX (SPCX 115.44, -9.89, -7.89%), the communication services sector (-2.6%) is now the worst-performing S&P 500 sector.
