Stock Market Today: Nasdaq Slides Amid Surprise Economic Data; Microsoft Outage Trips Up Stock (Live Coverage)

The Nasdaq declined in trading after a batch of economic data came in above expectations, while Microsoft shares fell separately following a service outage at the company. The surprise data points to a stronger-than-expected economy, which lifts Treasury yields and compresses the present value of long-duration growth earnings, a channel that weighs heavily on the rate-sensitive Nasdaq-100 given its large technology weighting. Repricing of the rate path tends to hit high-multiple tech names hardest, so NDX is exposed to shifts in yield expectations, while MSFT carries an additional idiosyncratic layer of operational risk from the outage that can dent sentiment around cloud reliability. Traders should watch the next Treasury yield moves and Fed funds futures pricing in the wake of the data, along with the upcoming CPI release, which will show whether the inflation trajectory supports the rate-repricing narrative behind the selloff.

The Nasdaq-100 (NDX) is the US large-cap tech benchmark. NDX is more sensitive to rate decisions than SPX because of longer-duration cash flows, and heavily concentrated in Tech/Comms names — mega-cap earnings season dominates price action.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

Active traders typically follow a three-step workflow when a market-moving headline hits the wire: (1) read the headline on the terminal or hear it on the squawk box; (2) assess whether the news is already priced in (by checking intraday price action in the seconds before) or whether it's genuinely new information; (3) act — either entering a breakout position, fading an overreaction, or tightening stops on existing trades. Trading News Terminal's Pro plan delivers wire-grade headlines within seconds of the source, with automatic audio squawk on every HIGH-impact event, so the read-assess-act cycle never waits on a refresh button.