On this day, the Standard & Poor's (S&P) 500 index, a benchmark for large-cap stocks on the New York Stock Exchange, fell 0.13% compared to the previous trading session. The index, which fell to 1.5% at one point during the session, reduced its losses due to the inflow of buying activity focused on economically sensitive stocks. The Nasdaq index, which has a large proportion of technology stocks, recorded a decline of 0.72% to 23,685.12, and the Dow Jones 30 Industrial Average, which gathered blue-chip stocks, closed trading at 49,071.56, up 0.11%.
Microsoft (MS) plunged 10% on this day, recording the largest decline since the early stages of the COVID-19 pandemic in March 2020. As the growth of cloud services business in the second quarter of the fiscal year slowed and the operating profit margin guidance for the third quarter fell short of market expectations, concerns about short-term profitability from AI investments were highlighted. MS is a key component of the 'Magnificent 7,' which has led stock market gains in recent years.
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https://n.news.naver.com/article/018/0006209910?sid=101
