Stock Market News Today: Dow, Nasdaq Slip; Alphabet Stock Price Falls - The Wall Street Journal

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Stock Market Today: Nasdaq Falls; Alphabet Stock Slides After Earnings

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Oct. 25, 2023 at 2:19 PM EDT

Tech stocks are getting crushed.

Some of the stock market's behemoths are badly underperforming in afternoon trading, weighing on the broader market.

Alphabet's stock is down more than 9% after reporting its quarterly results, a warning sign to some investors about the resilience of tech stocks after a banner year. Shares of Amazon, Apple and Nvidia are also lower.

It hasn't been all bad; cloud results at Microsoft boosted its shares.

Stay tuned: The earnings deluge continues today, with Facebook parent Meta Platforms, Barbie maker Mattel and IBM due to report after the closing bell.

In recent trading:

Stocks fell. The selloff accelerated in afternoon trading, and the tech-heavy Nasdaq was in correction territory.

Yields on benchmark 10-year Treasury notes rose but held below the 16-year high of 5% reached Monday.

Chip stocks fell after Texas Instruments reported lackluster quarterly results.

Bitcoin prices continued their ascent.

Shares of Germany's Deutsche Bank shot up after it reported that higher interest rates had benefited its lending business and signaled it would raise shareholder payouts.

Microsoft rose after the company's quarterly revenue and net income beat analysts' expectations.

—By Angus Berwick and Gunjan Banerji

Our new Sunday podcast, WSJ's Take On the Week, can help you prepare for what's ahead. Plus, get smarter about markets with our free weekday morning and evening newsletters.

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