Microsoft yanks Wall Street lower as gold's price suddenly snaps back

[Wicked Blue]

Source: AP

The worst day for Microsoft in years is yanking the U.S. stock market away from its record heights on Thursday. The fever in the gold and metals markets may be breaking, meanwhile, after prices suddenly snapped back following their jaw-dropping runs.

The S&P 500 sank 1% after flirting with its all-time high earlier in the morning. The Dow Jones Industrial Average was down 113 points, or 0.2%, as of noon Eastern time, and the Nasdaq composite was 1.9% lower.

Microsoft was the heaviest weight on the market by far, and it tumbled 12% even though the tech giant reported stronger profit and revenue for the latest quarter than analysts expected. Investors honed in instead on how much Microsoft is spending on investments, whether growth in its Azure cloud business will slow and how long its push into artificial-intelligence technology will take to turn into big profits.

Its stock is on track for its worst day since the market’s COVID crash in 2020, and it was alone responsible for more than two-thirds of the S&P 500’s drop.

Read more: https://apnews.com/article/stock-markets-dollar-gold-fed-2a3715ff96ba5c10b97c49e04ad9f8ec

[Jilly_in_VA]

1. Thank heavens

I was talking to a fellow jewelry designer who does it for a living. She works in silver and does both wirework and silversmithing. Silver was over $100/oz a couple of days ago and she was freaking out, said she felt "paralyzed". I get it, although I work less in silver than she does lately, doing more copper and bronze and mixed metal. I have been using up scraps. This speculation, because that's what it is, is driving those of us who work in metal and wire absolutely up a wall! Guys, take you little games somewhere else please!

[yardwork]

4. Would this be a good time to sell gold pieces to local jewelers?

I have some odds and ends, mostly old gold and silver chains, that I've thought about selling.

[mpcamb]

2. Since trump took office the USD dropped .97 to .84 vs Euro and 20.65 to 17.25 vs Mexican Peso.

Your money worth ~15% less in trade internationally.
trump took away agencies that give honest estimates about US finance.
How do you think it'll end?

[Wicked Blue]

3. Traitor wants to leave the US in financial ruins

Not only to grab whatever money he can for himself, family and cronies, but also because among other things he is helping putin fulfill his dream of wrecking the US.