U.S. equity futures and Asian stocks slid Friday as traders weighed signs of a slowdown ahead for megacap technology companies and risks from China’s regulatory crackdown. Treasuries and the dollar rose.
Stocks fell in Hong Kong and China as well as Japan. Nasdaq 100 contracts shed more than 1% as Amazon.com Inc. tumbled in extended trading on indications its rapid growth through the pandemic is waning. Asia-Pacific stocks had jumped Thursday after Beijing tried to allay fears over regulatory curbs on private industries, but U.S.-listed Chinese equities later resumed declines. S&P 500 futures also fell. The gauge rose overnight on data signaling scope for the Federal Reserve to keep policy ultra-loose.
U.S. economic growth was solid while trailing estimates. Jobless claims dropped but were higher than forecast. The dollar snapped a four-day retreat but is on course for its biggest weekly drop since May. Oil mostly held recent gains on expectations that demand from economic reopening will weather delta-strain Covid-19 flareups.
