Contracts on the tech-heavy Nasdaq 100 slumped more than one per cent on Amazon.com Inc.'s plunge after hours as its sales forecast trailed estimates. S&P 500 futures and the Stoxx Europe 600 were as much as 0.7 per cent lower after trimming a loss of about 1 per cent each.
Despite the downturn, the S&P 500 is heading for a second week of gains for the first time since August. The ECB delivered a second straight 75 basis-point hike on Thursday but dropped a prior reference to rate increases continuing for “several meetings,” an outcome that was considered dovish. Economists still expect the Federal Reserve to hike by three-quarters of a percentage point for the fourth time in a row next week -- and tighter policy is starting to crimp corporate earnings.
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U.S. stocks slip as traders assess earnings, await ECB - BNN BloombergStocks slipped and U.S. futures wavered as traders digested a flurry of major earnings and prepared for another jumbo European Central Bank rate hike later Thursday.
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Amazon, Apple shares drop as stocks fall for a second dayMeta Platforms Inc. suffered its worst one\u002Dday drop since February. Read more.
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Meta’s US$677B rout boots it out of world’s top 20 stocks - BNN BloombergMeta Platforms Inc. shareholders are paying dearly for its spending on the metaverse: The Facebook parent’s market value has collapsed by a whopping $677 billion this year, forcing it out from the ranks of the world’s 20 largest companies. The whole meta concept is probably 10-20 years from being meaningful, at least in terms of making money at least. This money pit will be the ruin of Facebook. Psychopath There are no more VC funded companies pouring money into advertising to sell products, think casper. until those come back meta won't do so well.
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