Shares of Microsoft Corp. MSFT, -4.18% shed 4.18% to $277.52 Friday, on what proved to be an all-around rough trading session for the stock market, with the S&P 500 Index SPX, -3.63% falling 3.63% to 4,131.93 and Dow Jones Industrial Average DJIA, -2.77% falling 2.77% to 32,977.21. The stock’s fall snapped a two-day winning streak. Microsoft Corp. closed $72.15 below its 52-week high ($349.67), which the company reached on November 22nd.
The stock underperformed when compared to some of its competitors Friday, as Apple Inc. AAPL, -3.66% fell 3.66% to $157.65, Alphabet Inc. Cl A GOOGL, -3.72% fell 3.72% to $2,282.19, and SAP SE ADR SAP, -1.86% fell 1.86% to $100.80. Trading volume (36.4 M) eclipsed its 50-day average volume of 32.5 M.
Our call of the day from TS Lombard chief economist Steven Blitz warns that the "golden era of Fed-controlled equity markets" is nearing an end.
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