Alphabet’s worst day since its 2004 listing (-12.64%) on negative free cash flow erased roughly $500 billion and dragged the Nasdaq 100 down 1.38%, yet four in five S&P 500 stocks rose. Q3 GDP beat at 3.4% and PCE inflation matched at 3.6%; the 10-year fell 11.7 bps to 4.934%. Microsoft launched a $25 billion-plus bond sale. DoorDash (+5.61%) agreed to buy Instacart for $17 billion. CENTCOM briefed Trump on Iran military options; crude ended flat above $100.
