US stock futures drop as Robinhood seeks to restore GameStop trading

How much has wall street lost on Gamestop

US stock futures and Asian equities dropped as online brokerage Robinhood sought to restore trading in GameStop and other groups swept up in a volatility-inducing battle between retail traders and hedge funds.

Futures for the S&P 500 dropped 1.2 per cent in Asian trading on Friday following reports of the move by Robinhood, while those for the technology-focused Nasdaq Composite were down 1.4 per cent. Futures for London’s FTSE 100 slipped 1.3 per cent.

The S&P 500 on Thursday rebounded 1 per cent from Wall Street’s worst day since October after Robinhood and other retail brokers restricted trading in a number of companies whose share prices have risen sharply this week.

By Financial Times