Microsoft lost $357 billion in market cap as stock plunged most since 2020

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shares slid about 10% on Thursday following an earnings report that disappointed some investors, prompting the stock’s sharpest daily decline since March 2020.

The move trimmed the technology company’s market cap by $357 billion, leaving it at $3.22 trillion by the end of Thursday trading.

The iShares Expanded Tech-Software Sector

exchange-traded fund tumbled 5% on Thursday, while the technology-heavy Nasdaq Composite index finished the day down 0.7%. Not all of technology went down, though.