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Markets · Investing · Business
Finance
Why Microsoft Stock Is Sinking Today
Microsoft actually had some good news for investors today, but its stock is still losing ground.
Microsoft(NASDAQ: MSFT) stock is in the red in Tuesday's trading, but it has regained some ground after initial sell-offs. As of 2:30 p.m. ET, the company's share price was down 2% after having been down as much as 3.2%. The S&P 500 had moved 0.6% lower in the daily session at the same point, and the Nasdaq Composite had fallen 1.7%.
Despite the significant valuation pullback, there was some good news for Microsoft today -- with the company announcing it had expanded its relationship with consulting firm KPMG. Even so, fears about macroeconomic factors and the potential impact of SpaceX's upcoming initial public offering (IPO).
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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