Microsoft Corporation (NASDAQ:MSFT) was sliding almost 4% lower on Tuesday in sympathy with the general markets, which saw the S&P 500 gap down and plunge about 3% lower.
The sharp decline was a bearish reaction to consumer price index (CPI) data released by the U.S. Labor Department, which indicated that although inflation likely peaked in July, the inflation level hasn’t come down to where analysts estimate it should be measuring.
