Stock Market Live November 18: S&P 500 (VOO) Opens Lower as Google CEO Warns of an AI Selloff

This nonfiction volition beryllium updated passim the day, truthful cheque backmost often for much regular updates.

The Vanguard S&P 500 ETF (NYSEMKT: VOO) mislaid astir 1% connected Monday, and arsenic Tuesday dawns is continuing to slide, down different 0.4% premarket. Media pundits proceed to blasted capitalist worries astir an over-heated market, and overpriced AI stocks successful particular, citing declines successful still-pretty-red-hot names specified arsenic Palantir (Nasdaq: PLTR), which reported beardown net earlier this month, and Nvidia (Nasdaq: NVDA), which reports time aft the close.

And not lone investors are worried.

This greeting Alphabet (Nasdaq: GOOG) CEO Sundar Pichai told the BBC that momentum down AI stocks this twelvemonth has been "extraordinary," but helium besides sees a definite magnitude of "irrationality" successful AI banal valuations lately. Even much ominously, Pichai warned that if investors determine to rethink the multiples they've been paying for tech stocks, "no institution is going to beryllium immune, including us."

And yet, perversely, this greeting Alphabet banal is up much than 1% pre-market, portion some Palantir and Nvidia are down! For the clip being astatine least, Alphabet does look benignant of immune!

• Alphabet CEO Sundar Pichai warns that valuations of AI stocks whitethorn person go irrational. Says nary banal whitethorn beryllium immune to the selloff.

• Home Depot missed connected net today, but bushed connected sales, and warned connected earnings.

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In net news, we person a mates of large S&P 500 constituent companies reporting this morning:

Home Depot (NYSE: HD) missed by a dime today, reporting Q3 nett of $3.74 per stock connected income of $41.4 billion. Wall Street lone expected $41.2 cardinal successful sales, however, truthful the quality is not each bad. However, for the afloat year, Home Depot projects income maturation of astir 3% with "slightly positive" same-store income growth, but nett net down 6% astatine astir $14.01 per share.

Home Depot banal is down much than 4% premarket.

In contrast, Medtronic (NYSE: MDT) bushed net by a nickel with fiscal Q2 2026 net of $1.36 per stock and income of $9 billion, again amended than forecast. Medtronic guided higher than expected, with fiscal 2026 nett expected to scope from $5.62 to $5.66, and Medtronic banal is  up astir 4%.

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