Microsoft IT outage is linked to a major cyber security firm CrowdStrike. As a result, the share price of Microsoft and CrowdStrike are trending lower in the market today. CrowdStrike is down 11% following the major outage, affecting businesses worldwide while Microsoft is down by 1% after reporting issues affecting its Azure cloud services and Microsoft 365 suite of apps.
In pre-market trade today, CrowdStrike was quoting lower by 18.67% while Microsoft was down 2.5%.
After a global IT meltdown impacted operations in various industries, including the airline industry, the megacap IT sector found itself under pressure. According to reports, a security upgrade from CrowdStrike that created an issue with Microsoft Windows was the reason behind the outage.
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Global institutions, including major banks, media outlets, and airlines, are experiencing a massive IT outage. A significant IT outage caused planes to be grounded and TV studios to halt broadcasting. The stock market impact of the companies involved in the outage crisis is no less.
London Stock Exchange’s report stated – RNS news service is currently experiencing a 3rd party global technical issue, preventing news from being published. Technical teams are working to restore the service, there is no impact to securities trading or other services on the London Stock Exchange.
George Kurtz, President & CEO CrowdStrike tweeted on X ( formerly Twitter) – ” CrowdStrike is actively working with customers impacted by a defect found in a single content update for Windows hosts. Mac and Linux hosts are not impacted. This is not a security incident or cyberattack. The issue has been identified, isolated and a fix has been deployed. We refer customers to the support portal for the latest updates and will continue to provide complete and continuous updates on our website. We further recommend organizations ensure they’re communicating with CrowdStrike representatives through official channels. Our team is fully mobilized to ensure the security and stability of CrowdStrike customers.”
PTI reports that Microsoft on Friday said that it is aware of the issue affecting Windows devices due to an update from a third-party software platform. A Microsoft spokesperson said: “We anticipate a resolution is forthcoming. We’re aware of an issue affecting Windows devices due to an update from a third-party software platform.”
What Led to Outage
CrowdStrike experienced a major outage due to an update issue affecting its Falcon Sensor product, which prevents cyber breaches using cloud technology. On July 15, CrowdStrike (NASDAQ: CRWD) announced CrowdStrike Falcon Complete Next-Gen MDR to stop breaches with unprecedented speed and precision across the entire enterprise attack surface.
Falcon Complete Next-Gen MDR expands MDR operations beyond native endpoint, identity and cloud security telemetry, incorporating critical third-party data from Falcon Next-Gen SIEM and revolutionary AI capabilities for rich attack context and rapid response.