Microsoft Corp. saw its stock plummet 10 percent on Thursday, erasing $357 billion from its market capitalization and marking the company’s steepest single-day decline since March 2020, when markets dropped amid the COVID-19 pandemic.
The drop left Microsoft’s market value at $3.22 trillion, as investors reacted to an earnings report that revealed shortcomings in cloud growth and raised questions about the payoff from massive investments in artificial intelligence.
