Microsoft outage disrupts global businesses, forcing fax fallback

A global Microsoft outage affecting Outlook and Teams is easing after nearly 24 hours, forcing some organizations to revert to fax and halting at least one European bond repurchase. Microsoft says software fixes are stabilizing systems. The outage, one of Microsoft's longest, hit Exchange Online features and affected government agencies, trading firms, and airlines worldwide. Downdetector logged over 7.4 million reports, with Microsoft ruling out malicious activity and AI as causes. This is Microsoft's second major disruption this year, raising concerns about reliance on Big Tech. Estimated insured losses range from US$300 million to US$500 million, though analysts note high switching costs may deter customers from leaving.