The market has spent much of the year rewarding caution and punishing complacency. After a long stretch where mega-cap tech felt untouchable, volatility has crept back in — driven by shifting interest-rate expectations,

Following the recent wave of tech layoffs, the company is giving some employees the option to take a voluntary buyout.

Michael Burry initiated a new position in Microsoft , adding to beaten-down software names even as he ramps up downside protection in the broader market. In a Substack post published late Thursday, the investor of "Big Short" fame said he also increased holdings in MSCI ,