Alphabet Inc. (GOOGL) shares are experiencing a decline today, primarily influenced by broader market trends following the Federal Reserve's recent policy announcement. The Fed cut its benchmark lending rate, as anticipated, but signaled a slower pace of future rate reductions, which has led to a cautious market sentiment. This announcement has impacted large-cap technology stocks, including Alphabet, as investors reassess their positions in the tech sector amid changing interest rate expectations. Additionally, the rise in the 10-year Treasury yield to 4.45% has added pressure on tech stocks, which are sensitive to interest rate changes due to their growth-oriented valuations.
Alphabet's stock is currently trading at $191.66, down 1.92% from its previous close of $195.42, and has decreased by 1.82% from its opening price of $195.22.