Microsoft Stock Crash Update: The company’s stock is declining in pre-market trade on the US stock exchange due to Microsoft’s server crash. Microsoft’s stock is trading at $434.21, down 1.42 percent. However, the stock slipped by 3.24 percent after the news of the server crash came. Microsoft and CrowdStrike, which provides cyber security and is responsible for this, slipped by 20 percent in pre-market trade.
Fall In Microsoft Stock
Before the opening of the US stock market, Microsoft and CrowdStrike’s stock saw a huge decline in pre-market trade. Currently, Microsoft is trading at $434.23, down 1.36 percent from its previous closing price of $440.37. Microsoft is the second-largest company in the world in terms of market capitalization.
CrowdStrike’s Stock Crashed
CrowdStrike’s stock has recovered slightly from the low level and is trading at $302.36, down 11.80 percent in the pre-market. In the previous session, the stock closed at $343.05.
European Markets Also Slipped
Due to Microsoft’s server shutdown, the European stock market is in decline. European countries’ stock exchanges, FTSE, CAC, and DAX, are also in decline. Earlier, the stock markets of Asian countries also closed in decline. Hang Seng and Taiwan markets also closed in decline due to this reason.
Microsoft’s Reputation Affected
Market experts say the server’s downtime has hurt this company’s reputation. This incident shows how much we depend on a single company’s technology and how dangerous the consequences can be if such incidents happen. The impact of the server downtime is not only on common people but also on banks, including the central banks of countries. It has also affected the stock exchange, airports, and flights, causing chaos everywhere.
