S&P 500 Falls 1% as AI Stocks Weigh and Microsoft Services Disrupted
Key Facts
The S&P 500 fell 1% in Friday morning trading, November 13, after opening little changed, as technology stocks tied to artificial intelligence weighed on the indexes, according to the Associated Press. The move came as Microsoft services faced a global disruption affecting Outlook, Teams and Copilot; Reuters said the outage lasted about 12 hours. Despite the session's losses, the index remained on track for a weekly gain of 1.9%, according to the Associated Press. Market action reflected a divergence between the breadth of advancing stocks within the index and pressure on technology shares with heavy exposure to artificial intelligence. The rise in futures cited in earlier reports on this story could not be verified, so it is not included in the confirmed trading summary here.
Reports of problems with Outlook in the United States topped 130,000 at the outage's peak, according to Downdetector data cited by Reuters. The disruption affected the United States and Asia-Pacific, and hit government agencies in the United States, Australia and Japan, the news agency reported. Its effects also reached OpenAI and Anthropic, extending the outage beyond direct users of Microsoft applications. Microsoft said it had made changes to the affected servers but had not achieved a full recovery. The company added: "We are reviewing additional actions we can take to improve the stability of our infrastructure overall."
Microsoft shares edged down 0.1% in Friday trading, according to the Associated Press, a limited move despite the global outage affecting its web services. EL7 data show the stock closed at 523 dollars on November 12, a reading for the session before the trading detailed by the news agency. The S&P 500 also closed at 7,592.4 points on that date, according to EL7 data. These closing prices provide separate time context and do not represent closing prices for the November 13 session. In the broader market, the Associated Press said advancing stocks outnumbered decliners in the S&P 500, but declines in technology shares tied to artificial intelligence weighed on the indexes.
On the other side of the artificial intelligence sector, Cerebras reported record GAAP revenue of 210.8 million dollars in the third quarter of 2026, up 55% year over year. The company raised its core non-GAAP revenue outlook for 2026 to a range of 940 to 960 million dollars. Cerebras said Oracle was integrating its fast-inference technology into Oracle Cloud Infrastructure, with availability on the platform expected in 2027. It also announced a cloud deal with "one of the top three hyperscalers" and said further details would be announced the following year. The company did not name the provider in its announcement, while EL7 data show Cerebras shares closed at 97.75 dollars on November 12.
On prices, U.S. Bureau of Labor Statistics data showed the Producer Price Index for final demand rose 0.3% in October, following monthly increases of 1.4% in September and 0.4% in August. Year over year, the index rose 6.5% in the 12 months ended in October. The bureau said this was the largest annual increase since the index rose 7.4% in November 2022. The reading places accelerating annual producer prices alongside the outage and stock moves in the backdrop to Friday's session. Cerebras's next announced step in cloud distribution is to make its technology available on Oracle's platform in 2027, with further details of the cloud deal promised the following year.