The S&P 500 fell 0.31% to 7,720.39 on Thursday, snapping a three-session winning streak as Alphabet’s record one-day decline weighed on tech shares. Most S&P 500 components advanced, but the Nasdaq fell 1.4% as investors reassessed the returns on massive AI investments.

December S&P 500 futures traded as high as 7,773.75 and as low as 7,740.00. The session concluded near the day’s midpoint of 7,756.88 at 7,756.50, losing 26.75 handles from the previous settlement.

Economic data offered a mixed picture. U.S. gross domestic product grew at an annualized rate of 3.4% in the third quarter, accelerating from 2.2% in the second quarter. Meanwhile, the headline Personal Consumption Expenditures price index rose 0.5% in September and climbed to 3.6% year over year from 3.4% in August. Core PCE increased 0.3% for the month and 3.1% annually, keeping inflation concerns in focus.

On Friday, market participants can look forward to the third-quarter Employment Cost Index at 8:30 a.m. ET. Investors will also watch earnings from Exxon Mobil, Chevron and AbbVie, all scheduled to report before the open.

Among the top components of the index, Walmart Inc. (NYSE: WMT) emerged as the biggest gainer. The retail giant advanced by $2.48, or 2.09%, to close at $121.25. That performance outpaced the cash index by more than two percentage points.

Conversely, the biggest loser was Alphabet Inc (NASDAQ: GOOG). For the day, the tech giant declined by $41.07, or 12.64%, to close at $283.82.