Google stock

Shares of Microsoft and Alphabet extended losses Wednesday morning after the technology giants slashed earnings forecasts for the rest of this year as a ...

[hikes](https://www.forbes.com/sites/jonathanponciano/2022/09/21/fed-raises-rates-another-75-basis-points-pushing-borrowing-costs-to-highest-level-since-great-recession/) this summer pushed major indexes into bear market territory. "The moment the Fed decides to put out the fire [by pausing interest rate hikes], stocks and other risk assets are likely to rally sharply," says Morgan Stanley strategist Michael Wilson. As [signs](https://www.wsj.com/articles/fed-set-to-raise-rates-by-0-75-point-and-debate-size-of-future-hikes-11666356757) indicate the Federal Reserve may soon pause the hikes, which work to combat inflation by tempering consumer demand, the S&P 500 has rallied about 8% the past two weeks. Fellow cofounder [Sergey Brin](https://www.forbes.com/profile/sergey-brin/?listuri=rtb&sh=b91f2144b432) isn't far behind. Bank of America forecasts sentiment could get "incrementally more negative" as the season progresses. [Larry Page](https://www.forbes.com/profile/larry-page/?listuri=rtb&sh=693fefaf7893) is worth an estimated $84.2 billion Wednesday morning.