NEW YORK, Oct. 29 (Xinhua) -- U.S. stocks ended lower on Thursday as Alphabet revived worries about the cost of artificial intelligence investment.
The Dow Jones Industrial Average fell 132.54 points, or 0.25 percent, to 52,342.56. The S&P 500 dropped 23.59 points, or 0.3 percent, to 7,720.39. The Nasdaq Composite Index shed 365.13 points, or 1.38 percent, to 26,184.72.
Eight of the 11 primary S&P 500 sectors ended in the green, with the losses concentrated in technology-related names rather than spreading across the broader market.
Oil prices settled lower as hopes for renewed U.S.-Iran peace talks offset concerns over Middle East supply disruptions. Brent crude futures settled down 44 cents, or 0.38 percent, to 114.88 U.S. dollars a barrel. West Texas Intermediate crude settled down 78 cents, or 0.76 percent, to 102 dollars a barrel.
On the corporate front, Alphabet plunged more than 12 percent after reporting third-quarter revenue of 127.58 billion dollars, up 25 percent year on year but below expectations, with net income falling to 26.17 billion dollars and negative free cash flow of 9.07 billion dollars.
Microsoft edged lower even as Azure cloud growth of 48 percent drove strong quarterly results. Caterpillar fell more than 9 percent, weighing on the Dow, while ServiceNow plunged about 27 percent and Marvell dropped 13 percent. Eli Lilly added more than 6 percent after raising its revenue outlook, while Amazon and Intel fell ahead of their results after the close.
