The three major US stock indices all opened lower, with Google down more than 11%.

On October 29, according to Bitget market data, US stocks opened with the Dow Jones Industrial Average down 0.45%, the S&P 500 Index down 0.5%, and the Nasdaq Composite down 1.35%. Alphabet (GOOG.O) plunged 11.7%, dragging down AI software stocks as its Q3 revenue fell short of expectations and cash burn accelerated. Microsoft (MSFT.O) rose 0.5%, after the company reported cash flow performance far exceeding expectations and forecasted strong growth in its cloud business. Influenced by Samsung Electronics' earnings, memory concept stocks fell collectively, with Micron Technology (MU.O) down 1.8%. Google fell over 11%, erasing over $400 billion from its market capitalization; Lumentum rose over 3%, while Marvell Technology fell over 11%; Marvell Technology is reportedly engaged in advanced negotiations to acquire optical device manufacturer Lumentum.