LIVE MARKETS-Nasdaq falls more than 1% as Microsoft disappoints

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NASDAQ FALLS MORE THAN 1% AS MICROSOFT DISAPPOINTS

U.S. stocks are lower in morning trading on Thursday, with the Nasdaq .IXIC down more than 1% and leading declines among the major indexes.

Microsoft MSFT.O is down sharply in early trading amid worries about the hefty outlays behind its OpenAI alliance. The S&P 500 technology index .SPLRCT is leading declines among sectors.

Shares of Tesla TSLA.O also are down early, even though the company reported quarterly profit and revenue that were above expectations.

Investors are digesting geopolitical worries as well, with concerns increasing about a possible U.S. military attack on Iran. Energy shares jumped .SPNY along with oil prices.

Shares of Meta Platforms META.O bucked the trend in tech-related shares, with its shares rising following its quarterly report late Wednesday. Its revenue growth suggested that its AI pivot was paying off.

All eyes will be on Apple AAPL.O after the closing bell, when it is due to report results.

Here is the early snapshot:

(Caroline Valetkevitch)

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