Shares of Microsoft Corp. slid 1.38% to $335.02 on Friday, in line with a all-around dismal trading session for the stock market. The S&P 500 Index fell 0.77% to 4,348.33 and Dow Jones Industrial Average also fell 0.65% to 33,727.43, highlighting a tough day for investors.
Microsoft Corp. closed $16.45 short of its 52-week high of $351.47 on June 16th. Amidst the stock’s fall, it underperformed when compared to some of its competitors Friday. Apple Inc. fell 0.17% to $186.68, Alphabet Inc. Cl C fell 0.69% to $123.02, and Alphabet Inc. Cl A fell 0.66% to $122.34.
Trading volume was not as robust as in the past days, with only 22.9 M shares exchanged as opposed to its 50-day average volume of 28.3 M.
The Industry Feeling the Heat
The market downturn is not solely limited to the tech giant Microsoft Corp., as the rest of the industry is also feeling the heat. The cyclically-sensitive Nasdaq Composite endured a loss of its own, falling by 0.8%.
The trend is consistent with the equally lackluster performance of non-tech companies, which suffered a decline in their respective price benchmarks.
