Microsoft's stock faced downward pressure on November 27, 2024, as part of a broader decline in Big Tech shares, which weighed heavily on the market. The S&P 500 and Nasdaq Composite both experienced declines, with the latter falling by 1% as technology giants like Microsoft, Nvidia, and Apple saw their stock prices drop. Microsoft's decline was part of a larger trend affecting tech stocks, driven by a mix of disappointing earnings reports from companies like Dell and HP, and broader market concerns about economic indicators and interest rate expectations. Additionally, geopolitical tensions and trade policy uncertainties, particularly related to tariffs, added to the market's cautious sentiment.
The GraniteShares 2x Long MSFT Daily ETF (MSFL) saw its price decrease to $23.77, marking a 2.06% drop from the previous close.