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Microsoft shares fall 4% after warning of coronavirus hit to supply chain – Source Reuters Tech News

(Reuters) – Shares of Microsoft Corp (MSFT.O) fell more than 4% on Thursday after the company warned of weakness in PC business due to a hit to its supply chain from the coronavirus outbreak, echoing similar statements from Apple Inc (AAPL.O) and HP (HPQ.N).

FILE PHOTO: Silhouettes of mobile users are seen next to a screen projection of Microsoft logo in this picture illustration taken March 28, 2018. REUTERS/Dado Ruvic/Illustration

The drop in share price wiped off nearly $50 billion from the Microsoft’s market value on a day when broader markets were down more than 2%.

The virus has so far infected about 80,000 people, killed nearly 2,800 and spread to 44 countries, after originating in the central Chinese city of Wuhan late last year.

Apple was the first big technology firm to come out and say the virus was affecting its production and demand in China. PayPal Holdings Inc (PYPL.O) and Mastercard Inc (MA.N) have also warned about a possible hit.

Microsoft said on Wednesday its…

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Source Reuters Tech News

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