Why Microsoft Shares Are Diving

Microsoft Corporation MSFT shares are trading lower by 4.61% to $235.42 Friday morning. Shares of software companies at large are trading higher amid a rise in Treasury yields. Better-than-expected US unemployment data has added to concerns over a tight labor market, which has dimmed the outlook for a Fed policy pivot.

What Going On In The Broader Market?

The U.S. added 263,000 jobs last month, outpacing average economist estimates of 250,000 jobs, according to Benzinga Pro. 

New data from the Bureau of Labor Statistics showed the U.S. unemployment rate at 3.5%, beating the 3.7% level economists had projected. The labor participation rate dropped 0.1% to 62.3%, compared to the 63.4% pre-pandemic rate in February 2020...Read More

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According to data from Benzinga Pro, Microsoft has a 52-week high of $349.67 and a 52-week low of $232.73.