The stock market experienced a significant downturn, with major indices like the S&P 500 and Nasdaq falling sharply following disappointing earnings from Microsoft, which saw its stock plunge by 11%. This has triggered a selloff among software stocks, pushing them into a bear market. Wall Street slid to a one-week low as rising AI budgets from Big Tech raised investor concerns, leading to a widespread retreat in technology shares. Despite strong results from Meta, which saw a surge in its stock, the overall sentiment remained negative. Gold prices continue to soar, setting new records as investors flee from tech volatility.