Alphabet (Google) Stock Slides In Tandem With Other FAANG Stocks As Investors' Fears Ticks Higher
Portfolio Pulse from Melanie Schaffer
Alphabet Inc's stock dropped about 2.6% during Friday's trading session, despite the announcement of its Android 14 phones coming equipped with emergency SOS via satellite. The stock was affected by the general market, which saw the S&P 500 gap down 0.58% due to concerns about the Federal Reserve's rate hike campaign. Alphabet's stock is likely to continue downwards in the short term, but could be bullish in the long term. The stock's weakness, along with other FAANG stocks, caused volatility in the stock market to spike higher.
August 18, 2023 | 3:42 pm
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NEGATIVE IMPACT
Alphabet's stock dropped 2.6% due to market volatility and concerns over the Federal Reserve's rate hikes. The stock is expected to continue downwards in the short term.
The stock dropped due to market volatility and concerns over the Federal Reserve's rate hikes. Despite the announcement of new features in its Android 14 phones, the stock was affected by the general market downturn.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Alphabet's stock dropped 2.6% due to market volatility and concerns over the Federal Reserve's rate hikes. The stock is expected to continue downwards in the short term.
The stock dropped due to market volatility and concerns over the Federal Reserve's rate hikes. Despite the announcement of new features in its Android 14 phones, the stock was affected by the general market downturn.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100