Alphabet Faces Test for Its $4.6 Trillion AI Rally Over Holiday Week
Alphabet Inc. shares fell Friday, with Class A closing at $382.97, down 1.21%, capping a week-long drop of about 3.5%. FTSE Russell said Alphabet will be removed from the Russell 1000 Value Index, shifting to a 100% Growth classification in June. U.S. markets are closed Monday for Memorial Day. The S&P 500 rose 0.37% Friday, while Alphabet lagged behind.