Stock market today: S&P 500 slumps as Microsoft, Meta lead tech wreck

Investing.com-- The S&P 500 closed sharply lower Thursday as Meta and Microsoft fueled a rout in tech, while hotter inflation muddied the path for deeper Federal Reserve rate cuts.) slumped more than 4% after it racked up fewer than expected users in Q3 and detailed plans to boost spending offsetting better-than-expected earnings and revenue.

"While investors may be hung up on the optics of decelerating Azure growth paired with substantial CapEx, we see a path to upward revisions, and would be a buyer on weakness," they added.) stock slumped 16% after the trading platform reported that its third-quarter earnings missed expectations, although crypto trading volume and revenue doubled year-on-year.

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