Alphabet's October wipeout hits $766 billion, its worst month ever

Big Tech's brutal week had one clear epicenter. At its low Friday, Alphabet ( GOOGL ) had lost $477 billion in market value for the week, more than SpaceX, Intel, Nvidia and Amazon combined.

That would be the Google parent's worst week ever and the second-biggest weekly wipeout for any US-listed stock, by Yahoo Finance calculations. Only Nvidia ( NVDA ) has lost more, about $552 billion in the week of Jan. 27, 2025, when China's DeepSeek rattled AI investors. Alphabet's previous worst was about $386 billion in the week ended June 26.

Most of the damage came Thursday, when Alphabet lost $475 billion in a single session after its third quarter results . Friday's slide wiped out the gains the stock had made earlier in the week.

October looks even worse. At Friday's low, Alphabet had shed about $766 billion in market value this month, the second-biggest monthly loss ever for a US-listed company. Only SpaceX ( SPCX ) has lost more, about $822 billion in July. Alphabet's October loss is nearly double its previous worst month, about $420 billion in February 2025.

In percentage terms, the stock was down nearly 19% for October at its low, steeper than any month since it went public in 2004. Its previous worst was an 18.5% drop in November 2008. For the week, it was down nearly 13%, its worst since August 2011.

SpaceX, Intel ( INTC ) and Nvidia each lost more than $100 billion in market value this week. Intel fell as much as 30% Friday after a weak outlook, its steepest drop in decades . Amazon ( AMZN ) shed about $70 billion for the week after reporting results Thursday. Some software names fell harder in percentage terms, with ServiceNow ( NOW ) and Fortinet ( FTNT ) down roughly 25% to 33%.

Not all of that money left the market. Eli Lilly ( LLY ), Tesla ( TSLA ) and SK Hynix ( SKHY ) added about $370 billion in combined value, even as the Magnificent Seven stumbled .

UBS's chief investment office argued against heading for the exits. "Further volatility does not make retreating from markets an effective way to protect portfolios from potential drawdowns, in our view," Ulrike Hoffmann-Burchardi, CIO Americas and global head of equities, wrote Friday. "We continue to see scope for equity gains overall and believe investors should focus on building a resilient portfolio that includes exposure beyond tech."

Friday's close will settle the records. A close at or below $280.50 would lock in Alphabet's worst month since its IPO in percentage terms. To take Nvidia's weekly record in dollars, the stock would need to close near $273, down nearly 15% for the week.