On Friday, Microsoft, a leading tech company, experienced a major global IT system crash. This issue caused widespread disruptions and resulted in a sharp drop in its stock price. The outage had a significant impact on businesses around the world and led to an estimated $23 billion loss.
Microsoft’s stock price took a notable hit, sliding from $443.52 to $440.37, a drop of 0.71% in a single day, according to data from Stocklytics. This sudden decline had far-reaching consequences for the tech giant, eroding a significant portion of its market capitalization. Prior to the outage, Microsoft’s market value had stood at a staggering $3.27 trillion, making this downturn a significant setback for the company.
The IT system crash sent shockwaves across multiple industries, triggering a cascade of disruptions. Air travel was severely impacted, with flights grounded due to technical issues. Broadcasters struggled to maintain programming schedules, while hotel operators faced difficulties in managing bookings and processing payments. Moreover, numerous businesses reliant on Microsoft’s critical services found themselves grappling with operational hurdles, underscoring the far-reaching consequences of the crash.
IT Crash: Widespread Disruptions
- Air Travel: Flights grounded due to technical issues
- Broadcasting: TV channels experienced programming interruptions
- Hospitality: Hotel bookings and payment systems disrupted
- Business Operations: Countless companies faced operational challenges due to reliance on Microsoft’s critical services
Global markets reeled on Friday as a widespread computer crash brought operations to a grinding halt. A faulty update in CrowdStrike antivirus software on Microsoft’s cloud platform sparked the chaos, affecting everything from air travel to medical services. The London Stock Exchange was forced to delay trading, while the FTSE 100 index was stuck in limbo during afternoon trading.