Nasdaq futures are plunging more than 2% due to the shock of Meta earnings announced after the market closed on the 2nd (local time).
As of 6:40 p.m. on the 2nd (local time), NASDAQ futures fell 2.01%, S&P 500 futures 0.87%, and Dow futures fell 0.01%, respectively.
This is a significant increase in the fall. About an hour ago, NASDAQ alone fell 0.88%, and the rest of the futures were rising.
Nasdaq futures were falling 0.88% at the time, but Dow futures rose 0.84% and S&P 500 futures rose 0.30%, respectively.
However, the rising futures reversed their fall, and NASDAQ futures also increased their fall to more than 2%.
This is attributed to Facebook’s plunge of more than 20% in overtime transactions. Facebook announced disappointing results in its earnings announcement after the market closed.
Facebook’s net profit per share in the fourth quarter of last year was $3.67, below expectations ($3.84). Sales amounted to $33.67 billion, below the estimated $33.4 billion.
Sales forecast for the first quarter fell short of expectations. Facebook expects sales to be $27 billion to $29 billion in the first quarter. This is lower than the Wall Street forecast of $30.15 billion.
With the news, Facebook’s stock price is plunging more than 20% in overtime transactions. As a result, major U.S. index futures appear to be reversing their fall or increasing their fall.
