Tech giants Meta and Microsoft delivered disappointing earnings reports Thursday, sending shockwaves through the stock market. Investors were bracing for volatility, and it came in the form of a near 8% drop for Meta and a 3% decline for Microsoft. Despite solid revenue figures, investors focused on the hidden costs, with Microsoft’s $3.1 billion AI investment charge raising concerns about rapid spending growth without clear returns. Meta’s strong revenue growth since early 2024 was overshadowed by a one-time charge of $15.9 billion related to President Trump’s ‘One Big Beautiful Bill Act’. This unexpected expense raised questions about future cash flow, contributing to the market’s overall decline. Meanwhile, Alphabet’s impressive 7% surge following its strong results offered a brief respite but highlighted the growing pressure on tech giants. The combined effect of these reports painted a picture of uncertainty and triggered a broader sell-off in stock markets, particularly for indices like the Dow Jones Industrial Average and Nasdaq.