Microsoft Corp. shares plunged by the most in three weeks after the company warned of a slowdown in cloud and business software sales.
Shares were down as much as 4.2% at $231.97, the lowest since Jan. 4. Microsoft said late Tuesday that Azure cloud-computing sales in the current period will slow by 4 or 5 points — down from the mid-30s percentage-wise at the end of the fiscal second quarter. The business had been a bright spot in an otherwise lackluster earnings report.
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