victory. live from cnn center, this is cnn newsroom with john vause. a dismal day for wall street as the roller coaster ride on the u.s. stock market continues. the dow tumbled more than 700 points in its worst trading day since june of 2020. nasdaq lost nearly 4.8%. [ applause ] the sell-off began after target reported a 52% drop in profit for the first quarter, a day after walmart stock posted its worst day since 1987. markets in asia are also in the red this hour. live for us this hour in hong kong following the latest. after this, what are the marketing like in asia? yeah. asian markets are feeling that downward pressure after u.s. stocks, they posted the worst single day decline in two years. investors apparently spooked by two things. they re spooked by inflation fears. and they re also being spooked by weak earnings. target is the latest big box retailer to inject fear into the market. it posted that stunning first quarter profit decline of about 52%. it blam
the ongoing lockdowns in china are apparently impeding the global supply chain. let s look at what the asian trading day looks like right now and you should see a number of red arrows across the board. the nikkei down. the composite down just a tenth of one percent. the hang seng losing more than 2%. an idea of wall street will look like when it opens up in a few hours from now. the s&p set to gain two tenths of 1%. dow futures to gain about two tenths of one percent. markets have been hammered after the u.s. federal reserve signalled that they would regularly hike interest rates by half a percentage points in a bid to tame inflation which has been at its highest level since the 80s.
effect that it is all having on global markets. to talk more about this, cnn s kristie lu stout joins me from hong kong. michael, stocks continue to fall across the asia pacific region. this after russian president vladimir putin ordered russian troops to enter the pro-moscow separatist regions in eastern ukraine and if we bring up the la latest data for you, you will see a landscape painted in red. in japan, the nikkei down. the seoul kospi, losing one and a third. meanwhile, shanghai composite down almost 1%. i should also add that concerns about additional high-tech restrictions, also, weighing on the markets across china. also, this day, from asia we have been monitoring u.s. futures. and they do indicate and point to a lower open in the united states when markets re-open after that president s day holiday, on monday. dow futures down 1.53%. nasdaq futures losing 3.7%. s&p 500, down almost 2.5%. also, monday, we had that
expecting to surpass those numbers today. if you look at the figures of $7.8 billion expected totally for online shopping, you can expect amazon to be a big chunk of that money. polo. my wife accounts for 961 packages, alison. thank you for pulling back the curtain on the amazon magic for us. if you don t get free shipping, don t do it. you should expect free shipping. look at global stocks. looks like they are moving higher after the weekend. nikkei and shanghai and hang seng. nikkei down. shanghai is up 2%. europe shows the markets higher. bank stocks doing well. signs of hope with italy and reworking the framework with the eu. you see the ftse in london is up and cac and paris. let s go to wall street.