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Futures climb, Twitter slumps as Musk puts deal on hold -Breaking

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© Reuters. FILE PHOTO – A Wall Street sign can be seen outside New York Stock Exchange, New York on October 28, 2013. REUTERS/Carlo Allegri

(Reuters) – U.S. stock futures recovered on Friday after a turbulent week that saw rising worries about tighter monetary policies and slower economic growth. Twitter plummeted as Elon Musk canceled his contract for the company.

Twitter Inc The (NYSE:) fell 17.5% in premarket trades after Tesla Inc Chief Executive stated the deal worth $44 billion was temporarily on hold. He cited pending details regarding spam and fake accounts.

Tesla shares rose 5.3% following a 27% drop in share price since last month’s Twitter announcement.

Meta Platforms of other growth and tech stocks Meta Platforms by Alphabet (NASDAQ) Inc. Microsoft Corp (NASDAQ):, Apple Inc (NASDAQ):, Amazon.com.com. (NASDAQ): and Nvidia.com. After falling most of the week Corp rose between 1.2% – 3.4%.

Wall Street has been agitated by concerns over the Russia-Ukraine crisis and fast-rising inflation. This is combined with fears that hawkish Federal Reserve policy decisions could cause a global slowdown.

After falling from its Jan. 3 all-time high, the was within striking distance of declaring it entered a bearish market. Tech-heavy Nasdaq has fallen 29.1% since its November record closing.

At 06:39 AM. ET was up 249 points or 0.79%. ET was up 45 points or 1.15%. ET was up 208.75 or 1.75%.

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