New York, January 20, 2026, 05:31 EST — Premarket
- Alphabet’s Class A shares slipped roughly 0.9% ahead of the opening bell.
- Traders blame fresh tariff news involving Europe and Greenland for the immediate drag.
- Coming next: policy cues from Davos and Alphabet’s earnings call on Feb. 4.
Alphabet’s Class A shares (GOOGL) dipped $2.84, or 0.9%, slipping to roughly $330 in early trading Tuesday.
Investors woke up from the U.S. market holiday to fresh trade-war concerns, sending stocks down early. President Donald Trump has ramped up tariff threats against European nations, demanding the U.S. be allowed to purchase Greenland. The move hit U.S. tech shares listed in Europe, which slid on Monday. 1
In currency markets, traders snapped up protection against big swings expected in early February. Euro implied options volatility — a measure of anticipated currency fluctuations — jumped noticeably, Reuters reported. 2
TD Cowen analysts said there’s no clear playbook for the tariff threat, which is hitting as political and business leaders meet in Davos this week. David Morrison, senior market analyst at Trade Nation, called it “a tricky time” for markets. Reuters also noted investors eyeing Tuesday’s U.S. Supreme Court rulings, including key cases on the legality of Trump’s tariffs. 3
Alphabet feels the pinch from macro pressures since its ad and cloud revenues hinge on business confidence. When major policy shocks hit, budgets can tighten abruptly. With Europe as a key market for Google’s ad and cloud units, the stock becomes vulnerable when investors rush to shed risk.
There’s a straightforward mechanical factor as well: following a long weekend, early trading often sees spotty liquidity. Tech stocks usually catch the initial hit when headlines drive traders to favor cash and short-term hedges.
Alphabet’s upcoming catalyst is its quarterly earnings report. The company plans to release fourth-quarter and full-year 2025 results on Feb. 4 at 1:30 p.m. Pacific time (4:30 p.m. Eastern). 4
For now, traders will probably see Alphabet through the lens of broader market forces—geopolitics and interest rates—rather than any product updates. Nvidia and Microsoft, both down in Europe following tariff concerns, look set to follow that same pattern. 1
Premarket swings might just be a false signal. Should the tariff threat prove to be mere negotiation posturing, or if the tone eases, the selling pressure on megacap tech could ease sharply once trading starts.
Alphabet shares could react to Trump’s comments in Davos on Wednesday, along with any new clues before the Feb. 1 tariff deadline. After that, all eyes turn to the company’s earnings call on Feb. 4 for more detail. 5
