Microsoft stock plunges, dragging down Wall Street

Microsoft's stock had its worst day in years, plunging sharply and causing major U.S. stock indexes to fall to their lowest level in over a week. The drop erased about $357 billion from the company's market value.

Investors are questioning the company's massive spending on data centers and artificial intelligence, despite Microsoft reporting strong earnings. This concern over soaring AI budgets triggered a broader sell-off in big tech stocks.