About automatic text formatting
Microsoft PowerPoint, by default, automatically formats certain types of text as you type. For example, if you type two hyphens with no spaces around them, they're instantly formatted as an em dash. If you type a network or Internet path, it's formatted as a hyperlink. Common fractions, such as 1/4 and 1/2, when typed, are changed to fraction symbols. A variety of arrows and variations on the smiley face are changed from type characters to symbols.
Automatic paragraph formatting includes automatic bulleted and numbered lists and resizing of text in text placeholders if the text doesn't fit at its current font size.
You can turn all the automatic formatting options on or off. Once a formatting option is on, it affects all the text you type subsequently.
Options for undoing automatic formatting
You can choose to undo most automatic formatting using the AutoCorrect Options button 
. After an automatic change, such as the formatting of a network path into a hyperlink, if you rest the mouse pointer near the hyperlink, a small, blue box appears. It changes to a button icon when you point to it. When you click the button, it displays a list of options. You can choose to undo the correction (and you can redo it) for this instance only or to change the specific AutoFormat setting globally (by clicking Stop) so PowerPoint will stop making this change.
Another AutoFormat feature is text AutoFit, which resizes text as you type, if necessary, to fit the text into a placeholder. The AutoFit Options button 
, which appears near your text the first time it is resized, gives you control over whether you want the text to be resized. The button, when clicked, displays a menu giving you options for dealing with the overspilling text. You can stop resizing text for the current placeholder while still keeping your global AutoFit setting on. You can also display the AutoCorrect dialog box and turn off the AutoFit settings altogether, so no text will resize automatically.