THE Dow hit a seven-month low last night as increases in jobless claims and the trade deficit and a slowdown in China’s export growth spurred concern the economy may falter.

Microsoft has reported a 29% slump in fourth-quarter profits after a year in which its revenues fell for the first time since 1986.

Microsoft's quarterly revenue fell from the previous year for the first time in its 23-year history as a public company, while its profit dived 32%, it said today.

Microsoft's first-quarter results have exceeded expectations.