Published on 31 Oct 2024 on Benzinga
Stocks Tumble, Nasdaq 100 Selloffs As Tech Giants Disappoint, Crypto Companies...
Risk aversion swept across markets on Thursday as investor disappointment over third-quarter tech earnings triggered the steepest drop in major U.S. indices in nearly two months.
Microsoft Corp. MSFT plummeted over 5% by midday trading in New York, on track for its worst session in two years. Although the company surpassed earnings estimates, it forecasted slower growth in its Azure cloud business, dampening future revenue expectations.