Futures climb, Twitter slumps as Musk puts deal on hold

Published by
Reuters

By Devik Jain (Reuters) -U.S. stock index futures rebounded on Friday at the end of a bumpy week marked by rising concerns over tighter monetary policy and slowing economic growth, while Twitter sank after Elon Musk put his deal for the social media company on hold. Twitter Inc slumped 13.8% in premarket trading after the Tesla Inc chief executive said the $44-billion deal was “temporarily on hold” while he awaits data on the proportion of the company’s fake accounts. Musk says he is still committed to the acquisition. Tesla shares jumped 7.1%, having lost more than a quarter of their market v…

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