US stocks slide as Google parent's revenue miss revives AI spending jitters

US stock prices retreated on Thursday, with investors reassessing big tech’s massive AI spending spree as they digested high-profile earnings, crucial inflation data and the US Federal Reserve’s policy decision. All three major US stock indexes were in negative territory, with the Nasdaq dragged sharply lower by tech and tech-related megacaps in the wake of Alphabet’s disappointing quarterly results released late Wednesday. In contrast, the smallcap Russell 2000 advanced 0.8 per cent. Semiconductor stocks were poised to snap their four-day winning streak, dropping 2.0pc as investors sought to…