Microsoft shares lose $194 billion in a single day

Microsoft shares fell 6% on Thursday, posting their biggest one-day loss in two years, and the company lost $194 billion in market value in a single day.

The losses came after the software maker forecast a slowdown in cloud revenue growth, despite the company achieving higher-than-expected profits and revenue in the first quarter of its fiscal year.

The company expected a 31% to 32% increase in cloud revenue in the current quarter, compared with a 35% growth in the same period last year.