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Topline
Stocks fell Wednesday after Microsoft’s quarterly earnings report fell far short of expectations, with the top technology stocks leading the drop as fears mount about how lackluster macroeconomic conditions will impact corporations’ financial health.
Key Facts
Microsoft fell 4% in early trading and dragged down its peers as all five stocks in the FAANG grouping — Facebook parent Meta (-0.2%), Amazon (-2.9%), Apple (-1.8%), Netflix (-0.4%) and Google parent Alphabet (-1.6%) — and Tesla (-1.9%) all were in the red.
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