Microsoft Corporation (NASDAQ:MSFT) gapped down Wednesday morning and was falling about 2% intraday in sympathy with the S&P 500, which was plunging about 1.3% on data released from the Bureau of Labor and Statistics that showed inflation soared 9.1% year-over-year.
With the consumer price index surging at its fastest pace since 1981, big tech has been feeling the effects as consumers are forced to tighten spending to afford necessities such as groceries and gasoline.
