The tech-heavy Nasdaq index dipped 0.7% shortly after market open. Leading the losses was an 8% drop for Google parent Alphabet, a slide which erased as much as $211 billion in market value after the company’s earnings report revealed weaker Q4 revenues than consensus analyst forecasts and far higher 2025 spending guidance than anticipated,

Wall Street shifted lower in early trading Wednesday as markets took in more corporate earnings reports while considering the impact of tariffs being imposed by the United States and China. Futures for the S&P 500 were off 0.