Why Microsoft Stock Dropped Today
Microsoft (NASDAQ: MSFT) shares closed 3.3% lower on Tuesday after the U.S. Department of Labor reported that producer price inflation hit a historic high in November, up 9.6% from a year ago. This news came on top of a reported 6.8% jump in consumer prices that came out yesterday -- the fastest rate of price growth in 40 years.
Image source: Getty Images.
Reporting on Microsoft's price decline, Bloomberg drew a direct line from the inflation data to the weakness in Microsoft's stock price. But why exactly is inflation bad news for Microsoft (and other tech stocks as well)?
Source Fool.com
