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Lisa Abramowicz, journalist and co-host on Bloomberg TV/Radio, reports that Microsoft shares are on track for their worst monthly loss since 2008, falling nearly 19% in June.
She adds that Oracle is down 30%, Meta 12%, and Google 8% over the same period, while the S&P 500 equal weight index has gained 1% for the month.
The drop in tech shares comes after a period of sustained strength for U.S. equities. Earlier this month, Lisa Abramowicz noted that the U.S. stock market’s nine-week rally was the longest since 2023. She has also reported that the yield gap between U.S. 2-year and 10-year Treasuries has narrowed to its smallest in a year. These developments have drawn close attention from market participants tracking shifts in stocks and bonds.