News article in McDonald’s website confirms that after more than 30 years of operations in the country, McDonald’s Corporation...


McDonald’s To Exit from Russia after 30 Years of Service in the Country

The dollar slipped against other major currencies for a third straight day on Tuesday, tempering a long rally as investors cashed out and trimmed bets on U.S...

Stock Markets

Dollar Slipped against other Major Currencies as Focus turns to Growth

Asian shares rise on Tuesday, boosted by technology majors, as hopes expectation grow for an easing of China's regulatory crackdown on...

Stock Markets

Asian Shares Rise on High Expectation of Easing China Tech Crackdown

On Friday, Elon Musk revealed that his $44 billion takeover deal for Twitter Inc. has been put “temporarily on hold”, triggering a share plunge...

Stock Markets

Musk’s $44 Billion Twitter Acquisition Deal ‘on Hold’ Causing Shares to Plunge

His Highness Sheikh Khalifa bin Zayed Al Nahyan, the President of the United Arab Emirates and Ruler of Abu Dhabi, has passed away on Friday, May 13, aged 73...


RIP: UAE’s Sheikh Khalifa Bin Zayed Al Nahyan Passes Away

Stock Markets

3 Feb 2022

NASDAQ Futures Plummet by 2% Following Facebook’s Grim Forecast

NASDAQ Futures Plummet by 2% Following Facebook’s Grim Forecast

The Index Today

Nasdaq 100 futures slipped by 2% following Facebook’s parent Meta Inc.’s gloomy financial forecast, setting a similar tone for other social media companies.

Meta fell by 19.4% during premarket trading following a drop in the number of daily active users. The company has cited Apple’s policy changes, and growing competition from other social media giants like TikTok, as major reasons for their current slump.

Social media firms like Snap Inc., Twitter Inc., and Pinterest were also down between 6.6% and 15.2%.

The CBOE volatility index rose by 1.07 points to 23.14, following an almost three-week low during the previous session.

According to Saxo Bank’s Head of Equity Strategy, Peter Garnry, “the underlying dynamics are unchanged in the market, with downside risks persisting, driven by inflation and tightening of financial conditions."