U.S. stocks fall as Alphabet's revenue miss hits AI sentiment

Alphabet fell 12% after search revenue growth waned, erasing $499.8 billion in market value. Caterpillar dropped 9.3% on a sales miss. The Fed held rates steady. Q3 GDP rose 3.4% annualized; core PCE was 3.1% YoY. Treasury yields fell. Deal activity: DoorDash to buy Instacart for $17B, Thrive Capital to buy ADT for $7.6B, Marvell in advanced talks for Lumentum. Pharma stocks rose on strong earnings.