US stock market today: S&P 500, Nasdaq futures fall as Alphabet drops 11%

S&P 500 and Nasdaq 100 futures declined in the session as Alphabet shares fell 11%, according to the headline from CNBC TV18. The transmission runs through index concentration: Alphabet is among the largest weights in both the S&P 500 and the Nasdaq 100, so a double-digit drop in a single megacap mechanically drags on index levels and tends to spill into sentiment across mega-cap technology. The Nasdaq 100 carries the greater sensitivity given its heavier technology weighting, while GOOGL itself absorbs the direct company-specific repricing. Traders will watch whether selling broadens beyond Alphabet into other large-cap internet and AI-linked names, which would signal a sector-wide risk-off move rather than an isolated earnings or news reaction. The next data point to monitor is the close of Alphabet's share price relative to volume, alongside US consumer price index data scheduled later in the week that could shift rate expectations and influence multiple-driven tech valuations.

The Nasdaq-100 (NDX) is the US large-cap tech benchmark. NDX is more sensitive to rate decisions than SPX because of longer-duration cash flows, and heavily concentrated in Tech/Comms names — mega-cap earnings season dominates price action.

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