Wall St falls as Microsoft forecast hits tech stocks, earnings disappoint

Published by
Reuters

By Shreyashi Sanyal and Johann M Cherian (Reuters) – Wall Street’s main indexes dropped on Wednesday, with the Nasdaq down 2% as Microsoft’s outlook weighed down technology stocks, while a bleak quarterly report from Boeing added to fears of a recession. Shares of Microsoft fell 3.9% after it warned that growth in its lucrative cloud business could stall, while its PC unit continued to struggle. The S&P 500 technology index shed 2.1% to lead declines among the 11 major sector indexes. Amazon.com Inc, Salesforce Inc and ServiceNow Inc, which have substantial cloud businesses, fell between 2.5% …

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