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Economy · Impact 3 Serious

Google value plunges by $500bn as AI fears rattle Wall Street

· Mountain View, United States of America · single source so far

Google's stock hit a six-month low after the company revealed its AI search summaries were affecting ad revenue, wiping about $500bn from its value.

Location
Mountain View, United States of America · United States of America live map
Coordinates
37.42°N 122.08°W
Reported
29 Oct 2026, 21:37 UTC
Category
Economy
Impact
3 of 5 · Serious
Situation
Global markets
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Google loses about $500bn in value as AI search summaries weigh on ad revenue

On Thursday, Google's stock hit a six-month low after the company revealed its AI search summaries were affecting ad revenue, wiping about $500bn from its value. Earlier on Thursday, Shell reported its profit doubled and the ECB said Christine Lagarde will step down in February 2027. Energy prices tied to the Middle East conflict continued to feature in central bank and government commentary.

  • Google's stock fell to a six-month low, wiping about $500bn from its value.
  • Shell reported an adjusted profit of $10.8bn for July-September, up from $5.432bn a year earlier, and will return $5bn to shareholders.
  • Christine Lagarde will leave the European Central Bank presidency in February 2027, months before her term ends.
  • India's Ministry of Finance raised its fiscal-year growth forecasts but warned of inflation, particularly for fuel and energy.
Updated 29 Oct 2026, 22:49 UTC · Written by Claude from the reports on this page and on the map. Check the linked sources for full details.

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