Alphabet Inc (GOOGL.O) was the biggest drag on the S&P 500 and Nasdaq. Its shares sank 7.7% after its new AI chatbot Bard delivered an incorrect answer in an online advertisement.
Reuters
February 09, 2023 / 06:02 AM IST
The broad-based S&P 500 shed 0.2 percent to 4,103.58, while the tech-rich Nasdaq Composite Index added 0.1 percent at 11,894.05.
U.S. stocks ended down on Wednesday, paring most of the previous session’s strong gains, with tech-focused shares leading the way lower.
Alphabet Inc (GOOGL.O) was the biggest drag on the S&P 500 and Nasdaq. Its shares sank 7.7% after its new AI chatbot Bard delivered an incorrect answer in an online advertisement.
Adding to the cautious mood, Federal Reserve officials on Wednesday said more interest rate rises are in the cards as the U.S. central bank moves ahead with efforts to control inflation. None hinted though that January’s strong jobs report could drive more aggressive policy actions.
Fed Governor Christopher Waller said inflation seems poised to continue slowing this year but the U.S. central bank’s battle to reach its 2% target “might be a long fight” with monetary policy kept tighter for longer than anticipated.
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