Alphabet Shares on Track for Worst Day Since 2008

Investors sent shares of Alphabet Inc. falling toward their worst day in 10 years Tuesday, punishing the Google parent’s stock after its quarterly results signaled growth is slowing at the search-engine giant.

Shares fell as much as 8.6% shortly after the opening bell, a drop that would mark the stock’s worst day since December 2008. The decline erased a sizable chunk of Alphabet’s 2019 advance, putting the stock up 14% for the year, compared with the S&P 500’s 17% year-to-date rally.

Evidence that Google is an advertising company, and therefore a secular growth story tied to overall economic growth. It will follow the business cycle when corporates finally face the reality (fundamentals) and are no longer riding the equities market & Fed coat-tails.

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