Alphabet loses $500bn in market value as Coles shares plunge 10%
Google parent hit by slowing search revenue growth; Citi analyst says Woolworths pricing has impacted Coles supermarket sales
Alphabet, the parent company of Google, lost more than $500 billion in market value as its shares fell as much as 13 per cent on Thursday, the worst single-day performance for the Google parent company, after it reported slowing search revenue growth. In Australia, Coles shares plunged 10 per cent, wiping about $3 billion from its market value, after the supermarket chain said it expected flat first-half supermarket profits.