Microsoft kicks off tech earnings set to slump most since 2016

Wall Street has been slashing earnings estimates for months for the tech sector, which is projected to be the biggest drag on S&P 500 profits in the fourth quarter.

US technology stocks are about to hit their next hurdle when earnings season for the most influential segment of the S&P 500 Index gets underway in the coming week, vanishing profits.

The tech-heavy Nasdaq 100 Stock Index enters this crucial stretch amid a darkening backdrop that short-circuited a strong start to the year.