Why These 10 Firms Nosedived Today

The stock market bounced back from the previous day’s losses, with all major indices finishing higher as investors cheered the central bank’s decision to keep interest rates unchanged.

On Wednesday afternoon, the Federal Reserve kept rates steady at a range of 4.25 percent to 4.5 percent, saying that it was not in a hurry to cut rates and could still “wait and see” the impacts of President Donald Trump’s tariff policies.

The Dow Jones rallied by 0.70 percent, the S&P 500 increased by 0.43 percent, and the Nasdaq grew by 0.27 percent.

Beyond the major indices, bucked a broader market optimism as investors sold off on a series of disappointing news. In this article, we name Wednesday’s 10 worst-performing stocks and detail the reasons behind their gains.

To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.

A man in black suit holding a tablet looks at stock market data on a monitor. Photo by Tima Miroshnichenko on Pexels

10. Alphabet Inc. (NASDAQ:GOOG)

Alphabet Inc., operator of search engine giant Google, dropped its share prices by 7.51 percent to close at $152.80 apiece as investor sentiment was dampened by news that Apple Inc. was setting its sights on AI-powered search features for its Safari browser.

Speaking to the US Department of Justice’s antitrust trial against Alphabet Inc. (NASDAQ:GOOG), Eddy Cue, Apple’s senior vice president for services, said that Apple had no intention of creating its own search engine platform, but was “actively looking” to integrate AI tools into Safari.

The remarks fueled concerns that Alphabet Inc.’s (NASDAQ:GOOG) largest revenue-generating business could be dragged down by the rise of generative AI tools.

According to Cue, user inquiries into Safari had already dropped for the first time last month as they increasingly turned to large-language models for answers.

Currently, Siri only offers OpenAI, but Cue said that Apple is looking to add other models in the future, including Gemini.

9. WeRide Inc. (NASDAQ:WRD)

WeRide Inc. saw its share prices decline by 7.87 percent on Wednesday to close at $8.31 apiece as investors resorted to profit-taking following the prior day’s surge, supported by its newly clinched partnership with Uber Technologies Inc. (NYSE:UBER).

In a statement earlier this week, Uber said that it deepened its collaboration with WeRide Inc. (NASDAQ:WRD) for the expansion of robotaxi offerings in the Uber app in 15 more locations, including Europe and the Middle East.

“This expansion aligns with WeRide’s ambitious strategy for global growth—to make autonomous driving solutions more affordable and accessible to people worldwide,” said WeRide Inc. (NASDAQ:WRD) CEO Han Xu.

The two firms kicked off their partnership last year with the launch of robotaxis in Abu Dhabi, and later on, in Dubai, as they aim to expand their autonomous vehicle partnership to several new cities each year, all outside of the US and China.