US Stock Market Live Updates: Nasdaq futures slide as Alphabet earnings revive AI spending fears

Nasdaq 100 futures fell 0.93% as Alphabet's disappointing search advertising results and rising AI spending revived concerns about Big Tech capital expenditure; Alphabet was down 11.33% at $285.42 in premarket trading. US third-quarter GDP grew at an annualized 3.4%, while the Federal Reserve held rates unchanged and markets saw an above-81% probability of a December rate hike. Microsoft gained on strong cloud growth, but semiconductor and software stocks weakened after results from Fortinet and ServiceNow.