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FMC plunges 33% on lower quarterly profits forecast

Uber decreases after directing Q1 bookings listed below price quotes

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Indexes: Dow up 0.15%, S&P 500 down 0.08%, Nasdaq down 0.34%

(Updates with afternoon costs)

By Shashwat Chauhan and Sukriti Gupta

Feb 5 (Reuters) -

The S&P 500 and the Nasdaq slipped on Wednesday, wiki.die-karte-bitte.de with Alphabet the most significant drag after the tech giant's ugly cloud earnings and large investments into expert system disappointed financiers, while a variety of revenues included to the volatility.

Google-parent Alphabet dropped 8.2% after posting downbeat cloud profits growth and earmarking a higher-than-expected $75 billion for its AI buildout this year.

"The market has some proof to suggest that there are other business that possibly doing it less expensive, better, faster, quicker," said Dave Grecsek, handling director in planning strategy and research at Aspiriant.

"So what is the knowledge of continuing to maintain high capex?"

AI-related stocks were rocked recently following the soaring popularity of an affordable Chinese expert system design developed by start-up

DeepSeek

. Nvidia, one of the companies that was the worst hit, was up 3.8% on the day.

Advanced Micro Devices, on the other hand, lost 8.9% after CEO Lisa Su said the business's current-quarter data center sales - a proxy for its AI profits - would fall about 7% from the previous quarter.

On the data front, U.S. services sector activity all of a sudden slowed in January amid cooling need, assisting curb cost growth, a reading from the Institute for Supply Management showed.

Private payrolls increased by 183,000 jobs last month, compared with an estimated 150,000 boost, per financial experts polled by Reuters. The critical January nonfarm payrolls report is expected to be launched on Friday.

Shares of Apple alleviated 1.2% as Bloomberg News reported that China's antitrust regulator was getting ready for a possible examination of the iPhone maker.

At 11:33 a.m. ET, the Dow Jones Industrial Average increased 65.83 points, or 0.15%, to 44,621.87, the S&P 500 lost 4.37 points, or 0.08%, to 6,033.51 and the lost 70.17 points, or 0.34%, to 19,586.61.

Eight of the 11 S&P 500 sectors traded greater, though interaction services' over 3% fall obscured gains.

Uber Technologies dropped 7.2% after the ride-hailing business anticipated current-quarter bookings listed below estimates.

Fiserv advanced 7.1% as the payments firm beat price quotes for fourth-quarter revenue, assisted by strong demand in its banking and payments processing unit.

Markets likewise searched for advancements on the tariffs front after U.S. President Donald Trump said on Tuesday he remained in no rush to speak with Chinese President Xi Jinping to try to defuse a new trade war in between the nations.

Richmond Fed president Thomas Barkin said the Fed was still leaning towards more rate cuts this year, but flagged uncertainty around the impact of brand-new tariffs, immigration, policies and other Trump administration initiatives.

Among leading movers, FMC Corp plunged 33.6% after the agrichemicals manufacturer projection first-quarter revenue below estimates.

Johnson Controls leapt 11.1% as the building services business named Joakim Weidemanis as president and raised its 2025 profit projection.

Advancing issues outnumbered decliners by a 2.03-to-1 ratio on the NYSE and by a 1.6-to-1 ratio on the Nasdaq.

The S&P 500 published 27 brand-new 52-week highs and 12 brand-new lows, while the Nasdaq Composite recorded 81 brand-new highs and 69 new lows.

(Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Pooja Desai, Devika Syamnath and Maju Samuel)