Alphabet's parent company opened with a drop of more than 13%, hitting its record single-day decline.

Alphabet, Google's parent company, opened its stock price down more than 13%, hitting its largest single-day decline in history, as the quarterly earnings report for the third quarter of 2026 failed to meet expectations. Investors are concerned about the slowdown in search advertising growth and the rising costs of AI investment. Revenue for the quarter was $127.6 billion, lower than expected, with net profit falling by 25% year-on-year to $26.17 billion, free cash flow negative $9.07 billion, and capital expenditures reaching $51.4 billion.