US equity futures plunged after Facebook (-22%) reported weaker-than-expected earnings after Wednesday’s market close. Alphabet reported strong Q4 earnings. APAC looks set to open mixed.
Small investors, who sometimes flinch over the high share prices for mega-cap techs, are likely to cheer the move that will make shares more affordable.
Dow Jones Falls on Apple, Microsoft and Alphabet Earnings, Nikkei 225 May Follow
DOW JONES, NIKKEI 225, ASX 200 INDEX OUTLOOK:
Alphabet climbed whereas Apple and Microsoft fell after earnings release
Asia-Pacific markets are positioned for a cautious start after China market turmoil
US Earnings, China Stocks Turmoil, FOMC Meeting Asia-Pacific at Open:
Wall Street stocks retreated from record highs on Tuesday as traders awaited the FOMC meeting and Powell’s press conference. Chinese stock market turmoil and lingering pandemic concerns are weighing on sentiment across Asia-Pacific markets. The technology sector retreated the most, as investors digested decent Q2 earnings results and relatively tepid forward guidance.