- US equity futures and Asian equities sank following a late-day reversal on Wall Street due to poor corporate earnings, the prospect of tighter Federal Reserve monetary policy, and US-Russia tensions.

- Wall Street's gains vanished before the close of trade on Thursday, stranding the tech-heavy Nasdaq 100 in a correction and left the entire US market down more than 5% from its January high.

- The S&P 500, Nasdaq 100, and European contracts were all in the red. Asian shares fell as a result of a decline in Japan. Bonds rose, lowering the 10-year treasury yield to less than 1.80%. The yen rose, while the dollar index fluctuated.

- Investors are concerned about the likelihood of diminished stimulus as part of the Fed's strategy to combat excessive inflation. Company developments also had an impact on sentiment, with Netflix plummeting due to a dismal subscriber outlook. A claim that Washington is permitting some Baltic states to deliver US-made weapons to Ukraine has fuelled fears of a conflict with Russia.

- Oil fell as crude stocks in the US unexpectedly increased. The White House also stated that it will endeavour to expedite the release of strategic reserves.