# The S&P 500 broke its eight-day long rally to open 0.18% lower at 7,586.44.

*business · news · 2026-06-02 · NDTV Profit*

## Key points

- The S&P 500's eight-day rally ended as the index opened 0.18% lower.
- Dow Jones briefly hit a record 51,195.59 despite opening over 200 points lower.
- Alphabet Inc. shares dropped 5% after announcing an $80 billion equity fundraise.
- Alphabet will use the $80 billion from equity offerings to expand its AI initiatives.

The main Wall Street indices retreated from record highs to open in the red on Tuesday as traders awaited clarity to emergy on the US-Iran truce talk front. The S&P 500 broke its eight-day long rally to open 0.18% lower at 7,586.44, Dow Jones Industrial Average slumped over 200 points or 0.44% to open at 50,853.99 levels, while Nasdaq Composite's AI-fuelled rally cooled off with the index opening 0.27% lower at 27,014.03. However, Dow touched a fresh record after jumping over 100 points or 0.25% to 51,195.59. Shares of Google-parent Alphabet Inc. slipped 5% to $359.25 after the company announced a $80 billion fundraise through equity offerings, which will be infused in its artificial intelligence buildout. (This is a developing story)

**Companies:** Alphabet Inc.
**Countries:** United States

[Read the full story on NDTV Profit](https://www.ndtvprofit.com/markets/us-stock-market-today-wall-street-split-as-dow-hits-record-nasdaq-edges-lower-dragged-by-alphabet-11581393)

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