Alphabet Tumbles 6%

A renewed slide in AI hyperscalers pulled Wall Street’s biggest benchmarks lower at midday Monday. The S&P 500 and Nasdaq 100 are swinging into the red even as the Dow Jones and small caps pushed higher. -Iran talks over the Strait of Hormuz sent oil prices sliding, amid lingering bets that a hawkish Federal Reserve could still raise interest rates this year. 64 a barrel, almost fully erasing its Iran-war premium.

S. equity markets by midday Monday, the action was sharply split. 3%, or about 171 points, to 51,736. 6% to 30,238 as the megacap complex cracked.

Within Magnificent Seven stocks, Alphabet Inc. (NASDAQ: GOOGL ) tumbled more than 6% after Nobel laureate John Jumper announced he was leaving Google DeepMind for AI startup Anthropic. com Inc. 5% and Meta Platforms Inc.

(NASDAQ: META ) and Microsoft Corp. 6%, as investors fretted over soaring AI capital spending. Shares of Space Exploration Technologies Corp. (NASDAQ: SPCX ) slid 10% following a new bond offering of $20 billion.

The stock has now fallen 26% since its high last week. 4%. 4%. 5%.

5%. 4%, the latter firming as climbing yields lifted lenders. 5%. 5%.

Super Micro Computer Inc. (NASDAQ: SMCI ) jumped about 15% and ON Semiconductor Corp. 8%, both riding the broad semiconductor rally AbbVie Inc. 9 billion cash deal, Rocket Lab Corp.

3% and AST SpaceMobile Inc. 0%, in sympathy with SpaceX. The standout move belonged to Getty Images Holdings Inc. (NYSE: GETY ), which more than doubled, soaring about 119% after announcing a partnership with OpenAI.

Read Also: Fed Rate Hikes Are Coming, Bank Of America Warns In Shocking Hawkish Call Monday’s Russell 1000 Top Gainers Name % change Super Micro Computer, Inc. 8% AbbVie Inc. 9% Figure Technology Solutions, Inc. 4% Skyworks Solutions Inc.

8% ZoomInfo Technologies Inc. 3% AST SpaceMobile, Inc. 0% Rivian Automotive, Inc. 8% Image: Shutterstock