Finance

Shares of Microsoft leaped roughly 15.5% to 16%, marking the company's strongest single-day percentage gain since 2008. The rally, which added $450 billion to its market value, was fueled by quarterly revenue for its Azure cloud business surpassing $100 billion for the first time and an optimistic forward sales guidance.

Long-term bond yields continued to climb as investors weighed mixed macroeconomic factors and persistent long-term inflation worries following the Federal Reserve's rate pause. The 30-year U.S. Treasury yield advanced to a peak near 5.24%, reaching its highest level since mid-2007, even as short-term yields saw minor fluctuations.

Computer chip and memory manufacturers posted sharp gains, rebounding fiercely from a recent extended downturn. The iShares Semiconductor ETF surged over 8.5%, spearheaded by massive double-digit gains from industry players like Micron Technology and Advanced Micro Devices.