Big Tech weighs on US stocks despite earnings beats, putting pressure on Apple ahead of results. US equities fell shortly after the opening bell today, with the S&P 500 down about 0.8% as a sharp selloff in Microsoft weighed on major indexes. Microsoft shares dropped more than 11% in early trading, marking their steepest intraday decline since March 2020. The Nasdaq Composite fell about 1.6% in early trading, dragged lower by Microsoft’s decline. Other large technology stocks also weakened, with Tesla shares down near 2% after the automaker reported its first-ever annual revenue decline.