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Frankfurt: Hours after Microsoft Windows services were shut down, the situation is now returning to normal across the world. However, Microsoft's server and system failures have cost the industry nearly Rs. The loss is estimated to be over 1 lakh crore, with CrowdStrike alone costing Rs. 73,000 crore and Microsoft Rs. 5,000 crore. The airline industry is believed to have suffered the biggest loss in the world, which may increase when the official figures come in.
Due to the failure of Microsoft Windows service, the company suffered a huge loss of $23 billion (about Rs 1.93 lakh crore) in a single day. Not only this, this IT outage affected companies around the world, especially airlines.
Microsoft's share price fell 0.71 percent due to server down. This reduction reduced the company's market value by about $23 billion (about Rs 1.93 lakh crore) in a few hours. At 10.09 am on July 19, the technology giant's share price was $443.52 per share at the previous close, which fell to $440.37 after the global outage. Microsoft's market value was $3.27 trillion before the IT outage on Friday, but the company's market value saw a huge decline after the IT outage. However, market experts have expressed hope that Microsoft's market value will increase in a short time.
Similarly, shares of CrowdStrike, a lesser-known cybersecurity company worldwide, also took a massive hit, resulting in the company's market value dropping by 21 percent in a single day. $16 billion (roughly Rs. 1.34 lakh crores) flowed out of CrowdStrike, the company responsible for this mess that brought the world to a standstill. CrowdStrike is a little-known but globally recognized company in cybersecurity and has an estimated 30,000+ customers including Microsoft, Amazon, and others.
Meanwhile, a false update from CrowdStrike caused an uproar across the world. Air services of many countries were disrupted. However, Microsoft CEO Satya Nadella posted on Saturday that CrowdStrike released an update yesterday that brought down IT systems globally. We are aware of the issue and are working closely with CrowdStrike and the industry as a whole to provide technical guidance and support to customers to get their systems back online safely.
The company said, “We have largely fixed the issue and all Microsoft 365 apps and services are now back up and running.” We are monitoring the issue to ensure it is fully resolved. However, the Blue Screen of Death issue still persists, appearing on computer and laptop screens worldwide. Sources said it may take some time to fix.
It was rumored that World War III started after Microsoft's mess
The world's pace suddenly came to a halt after Microsoft's services were shut down on Friday. The IT crisis has become the biggest global crisis in recent years. However, with this, rumors started spreading on the Internet. Some users claimed that this was the beginning of the Third World War. Some people believe that this is a cyber attack targeting the world's rich. Airlines, banks, TV channels and financial institutions around the world were affected when Microsoft's server went down. However, along with this, the market of rumors remained hot on social media. One user wrote, I had read somewhere that the Third World War would be mainly a cyber attack. Some users also claimed that the World Economic Forum is behind this IT attack. Some users shared an old video of this forum, in which the possibility of a cyber attack was expressed.