Nifty’s Opening as Meta Records Historic Fall on Wall St, SGX Nifty Futures Shed

By Malvika Gurung

Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , tanked 1.14% at 8:40 am on Friday, mirroring sharp selloffs on the US markets, indicating Dalal Street to have a negative opening. At the same time, the rose 0.4%.

The three major Wall Street indices ended lower on Thursday, erasing the past 4 sessions’ gains, dragged by Meta Platforms Inc (NASDAQ:) weak revenue outlook, as the stock recorded a historic fall on Wall Street, crashing 26.4%, and wiping off $230 billion of its market capitalization in one day. 

The tech giant blamed Apple (NASDAQ:)’s privacy changes and increased competition from rivals like Tik Tok for its dismayed outlook. Meta’s fall erased 0.9% of Nasdaq’s value and 0.6% of S&P 500’s value in a single session, as the indices declined the most since September 2020 and February 2021, stated Reuters.

tanked 3.7%, plummeted 2.4%, and lost 1.45%.

Stocks across the Asian markets traded higher on Friday, despite the sharp selloffs on Wall Street.

At 8:35 am, Japan’s dropped 0.03%, South Korea’s climbed 0.9%, and MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.01% higher 0.24%. Hong Kong’s surged 2.5%.