Microsoft falls below $2T, as Apple, Nvidia, AMD lead tech sell-off
Lisa Maree Williams/Getty Images News

Microsoft (NASDAQ:MSFT) breached a psychologically important valuation on Monday, falling under the $2 trillion market cap level for the first time since June 2021, as tech stocks, including Apple (NASDAQ:AAPL), continued to decline.
Shortly before 11 a.m. EST, Microsoft (MSFT) fell more than 3% to $265.89, as more than 13.8 million shares changed hands. For comparison purposes, the average daily volume is just over 33 million shares.
Other big-cap tech stocks also declined sharply in value, as Apple (AAPL) declined nearly 2.5% to $153.40, while chip makers Nvidia (NASDAQ:NVDA) and Advanced Micro Devices (NASDAQ:AMD) declined 6.5 and 6%, respectively. 
Other declines came from Alphabet (GOOG), (GOOGL) and Facebook parent Meta Platforms (FB), which slumped 2% and nearly 3.5%, respectively.
PC makers HP (HPQ) and Dell (DELL) fell roughly 1% after investment firm Citi said the two were the companies with the most risk if China replaces foreign PCs with those made in China.
Qualcomm (QCOM), Intel (INTC) and Netflix (NFLX) also saw declines ranging between 1% and 2.5%. 
Last week, Microsoft (MSFT) said it was teaming up with Volkswagen Group to bring its HoloLens augmented reality glasses to vehicles, including cars and trucks.