Financial markets hurt by IT outage - but values of companies 'at heart of issue' have not plummeted

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Values of the companies said to be at the heart of the global IT shut down - CrowdStrike and Microsoft - have dropped, but not plummeted.

With the London Stock Exchange Group impacted by the global outage, the usual market data is not available to bring a comprehensive update of what's happening with companies. But the financial market reaction is clear: share prices are down across the board as the impact of system failures rips through businesses across the world.

The company which is said to have launched an antivirus update which apparently sparked the outage, CrowdStrike, saw its share price fall 16.63%. Microsoft, whose cloud computing system Azure is also reported to be a source of global glitches, has seen its share price drop 2.5% in premarket trading. How has one company been so impactful on the whole world? Though many will not have heard of CrowdStrike, the US-listed firm was valued at about $83bn .

 

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