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CrowdStrike slumps on global tech outage

CrowdStrike slumps on global tech outage
19 July 2024 21:30

(Reuters)

Wall Street's main indexes slipped on Friday, deepening a sell-off driven by tech stocks and mixed earnings, while investors assessed the impact of a global cyber outage that knocked down CrowdStrike's shares.

Cybersecurity firm CrowdStrike slumped 9.3 percent after an update to one of its products appeared to trigger an outage that affected customers using Microsoft's Windows Operating System, disrupting businesses across sectors.

Microsoft slipped 0.5 percent, on track for its worst week in three months after a rout in tech stocks.

Major US airlines ordered ground stops citing communication issues. On the trading front, the Euronext exchange and the London Stock Exchange Group's Workspace news and data platform reported issues, and the FTSE Russell faced disruptions to data.

LSEG later said its data and services were back online, while the New York Stock Exchange and Nasdaq said markets were operational and working normally.

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