On Thursday, the S&P 500 fell 2.4%, its biggest drop in nearly a year, weighed down by the t he 26.4% wipeout in Meta Platforms, as Facebook’s owner is now known.
In Asia on Friday, Hong Kong’s Hang Seng rose 771 points to 24,573.29.
Big technology and communications companies played a big role in driving gains for the broader market throughout the pandemic and much of the recovery in 2021.
The Federal Reserve is planning its first interest rate hike in March, aiming to tamp down inflation that has surged to 40-year highs.