Microsoft Drags Wall Street Down, Gold Prices Snap Back After Record Run

• Microsoft's stock plummeted 12%, marking its worst day since the 2020 COVID crash, despite exceeding profit and revenue expectations.
• Investors focused on Microsoft's high investment spending, potential slowdown in Azure cloud growth, and long-term AI profitability.
• The S&P 500 fell 1%, Dow Jones 0.2%, and Nasdaq 1.9%, largely due to Microsoft and Tesla's declines.
• Gold prices, after hitting a record high of nearly $5,600, suddenly dropped below $5,200, settling at $5,286.90.
• Meta Platforms and IBM saw gains, while Southwest Airlines surged on an optimistic 2026 earnings forecast.

Why It Matters: Microsoft's sharp decline and a sudden gold price reversal impacted Wall Street, despite some tech gains.