US futures, Europe stocks decline on earnings shock
- Date: 04-Feb-2022
- Source: The Gulf Time
- Sector:Financial Markets
- Country:Gulf
US futures, Europe stocks decline on earnings shock
Stocks
Bloomberg
The rally in global stocks faltered following disappointing earnings from technology bellwethers and as traders await more clues on how quickly key central banks will tighten the monetary policy.
US equity futures dropped, with contracts on the technology-heavy Nasdaq 100 losing 1.8%, after Facebook parent Meta Platforms Inc and streaming service Spotify Technology SA plunged in late trading on soggy forecasts. Europe’s Stoxx 600 fell, with ING Groep NV leading losses after missing profit estimates. German, UK yields rise before central-bank decisions.
US shares closed up Wednesday, taking global stocks to their best four-day advance since 2020, but the tech fallout overshadowed that winning run. A strong regional inflation print is buttressing the euro and adding pressure on the European Central Bank (ECB) to reconsider its dovish stance.
The poorly received earnings reports from the US tech giants are a challenge for dip buyers hoping that corporate performance will ease worries about central bank interest-rate hikes. Markets have swung sharply and stocks are nursing losses this year as officials pare stimulus to curb inflation.
“Volatility is here to stay,” Anna Han, equity strategist at Wells Fargo Securities, said on Bloomberg
Select Sector 
Select Country 
