The massive outage experienced by Microsoft this Friday morning affected transportation systems, the banking sector, emergencies and information services. As a result, global stock markets were heavily affected. What is happening on the markets?
Microsoft's giant outage shakes global stock markets
The Microsoft outage, which is still ongoing this morning, has affected a very high number of global companies using Crowstrike, an antivirus dedicated to professional systems. As a result, World stock markets showed great hesitation upon waking upespecially for companies directly concerned.
This morning, Microsoft was thus showing -2.8% in pre-opening, and Crowdstrike fell much more sharply, with already -14%.. Technology stocks were unsurprisingly hit particularly hard. This morning, S&P 500 futures lost 0.3%, and Nasdaq futures were down 0.5%.
💡 Learn more about this – Microsoft giant outage: airports, banks and large companies affected
On the French side, The CAC 40 was already having a difficult week, and Microsoft's outage is not helping mattersThe Paris Stock Exchange started the session down, with -0.5%. On the German side, the Dax lost 0.75%. Across the Channel, the FTSE 100 lost 0.5% at the opening.
The other consequence of Microsoft's failure, is that Crowdstrike's competitors are suddenly appreciating each otherThere is a new attraction for the shares of Cloudflare, Palo Alto Networks and SentinelOne in particular.
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Cryptocurrencies little affected by Microsoft outage at this stage
Cryptocurrencies, as assets considered risky, often follow the trend of global stock markets when the latter plunge. But this scenario is not being followed at this stage.. For the moment, the Bitcoin (BTC) price has dropped 1.6% early this morning, before stabilizing: it crashed to +0.89% at the end of the morning:
Bitcoin price remains little affected at this stage
The same is true for altcoins, which are currently showing slight declines. Ether (ETH) lost 1.8%, while Binance's BNB posted -0.8%.. XRP, which was up sharply over the week, is however correcting more heavily: it is losing 5.3%. As for Solana's SOL, it has the luxury of progressing by 1.9% over the same period.
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It is likely that Microsoft's giant outage will have more of an impact on markets as the day continues to unfoldAt this point, the affected systems appear to be gradually being brought back online by service operators, but Microsoft has not yet announced a resolution to its outage.
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Source: TradingView
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A journalist at Cryptoast since 2017, I am passionate about the issues of decentralization, privacy and regulation. I specialize in traditional economics and finance, analyzing how news from this sector influences the cryptocurrency sector, offering a unique and informed perspective to Cryptoast readers.
Marine Debelloir
3058 articles
