S&P 500, Nasdaq Dip as Alphabet Slides

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on Oct. 20, 2023. Brendan McDermid/Reuters

The Nasdaq and the S&P 500 slipped on Wednesday as tech giant Alphabet slumped after its cloud division missed revenue estimates, while post-earnings gains in Microsoft and Boeing helped lift the Dow.

Google-parent Alphabet slid 8.6 percent to a three-month low as its cloud business crawled to its slowest growth in at least 11 quarters.