By Chelsey Dulaney
Disappointing earnings from Microsoft fed into a tech selloff Thursday, pushing the Nasdaq composite down more than 1%.
Investors recoiled after Microsoft reported higher-than-expected spending on AI infrastructure and slower cloud growth, putting its stock on course for the worst pullback since early 2020. Other notable losers included ServiceNow, Workday and Salesforce. Meta Platforms bucked the trend with a post-earnings rally.
Gold prices swung sharply, after nearing $5,600 an ounce for the first time, and were recently up around 0.4%. Silver futures gained 1%. Copper, platinum and palladium rallied too.
Oil prices jumped on reports that President Trump is weighing new strikes on Iran. Brent-crude futures topped $70 a barrel.
Trump reiterated his calls for lower interest rates, a day after the Federal Reserve held them steady. He said the U.S. should have lower borrowing costs than any other country.
Apple is slated to post results later Thursday, as one of the busiest weeks of earnings season nears its end.
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(END) Dow Jones Newswires
January 29, 2026 14:11 ET (19:11 GMT)
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