Alphabet has seen ‘one of the more negative reactions to earnings reports this earnings season,’ says Bespoke Investment Group

Cloud revenue in the quarter of $12 billion—a 30% increase from last year—just misses analysts’ estimates of $12.2 billion.

Global stocks fell on Wednesday, after disappointing earnings from Alphabet knocked Wall Street futures, while the dollar took a dive against the yen, which rallied sharply after Japanese wage data upped the chances of another rate hike.