On June 11, Microsoft fell 3.03% in regular trading, trading at $385.425/share, with turnover of $7.541 billion.
On the news front, a broad technology selloff intensified as multiple global central banks signaled tightening monetary policy. Indonesia's central bank raised rates by 25 basis points following a surprise 50-basis-point hike in May, while the Bank of Japan is expected to raise its policy rate from 0.75% to 1.0% at its upcoming meeting. The European Central Bank is also widely expected to hike by 25 basis points this week. Although the Federal Reserve is likely to hold steady this month, expectations for a rate increase later this year continue to build, weighing heavily on growth and technology names.
The broader tech sector saw widespread declines, with chip stocks and optical communication names hit particularly hard. Within the Systems Software sector, Oracle fell 12.13%, ServiceNow declined 3.05%, while CrowdStrike rose 5.63% and Palo Alto Networks gained 3.3%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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