Stocks down, crypto up as CrowdStrike tech outage pushes Wall St ‘fear gauge’ to recent high

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Crowdstrike News

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NEW YORK, July 20 — World stock indexes fell yesterday as a global cyber outage rattled investors by disrupting operations across multiple industries, while the dollar climbed...

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Cybersecurity firm CrowdStrike fell 11.1 per cent after an update to one of its products appeared to trigger the outage that affected customers using Microsoft’s Windows Operating System, disrupting businesses across sectors. Microsoft ended down just 0.7 per cent.“Today’s outages remind us that services can have supply chain disruptions too,” said Jeff Kleintop, chief global investment strategist at Charles Schwab.

Investors also braced for important results in the U.S. second-quarter earnings season in the upcoming weeks. Results from megacaps will be in focus, with the S&P 500 technology-related sector falling 5.1 per cent this week as investors rotated into sectors that have languished so far in 2024.

 

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