snapchat app is seen on a smartphone in this illustration taken july 13 2021 reutersdado ruvicillustration may 24 reuters  us stock index futures fell on tuesday as a weak forecast from snap inc hit shares of social media companies a day after wall street enjoyed a relief rally the snapchat owners shares snapn plummeted 293 in premarket trading after the company slashed its secondquarter earnings forecast and said the economy had worsened faster than expected in the last month read more googleowner alphabet inc googlo twitter inc twtrn meta platforms inc fbo and pinterest inc pinsn which earn a chunk of their revenue from advertising fell between 37 and 124 snaps warning has triggered fears that advertising spend has peaked for now russ mould investment director at aj bell said when the economic outlook is gloomier advertising spend is pared back this will put investors in a bad mood and create more storm clouds just at the point when many were hoping the market slump was close to bottoming out wall streets main indexes ended sharply higher on monday in a broadbased rally led by beaten down banks and big tech shares the rebound came on the heels of the sp 500 spx and the nasdaqs ixic longest streak of weekly declines since the dotcom bust in 2001 on concerns about the impact of persistently high inflation on the us economy and corporate earnings at 0617 am et dow eminis were down 227 points or 071 sp 500 eminis were down 4325 points or 109 and nasdaq 100 eminis were down 20175 points or 168 airbnb inc abnbo slipped 23 after the vacation rental firm said it would shut down its domestic business in china from july 30 joining a long list of western internet platforms that have opted out of the china market read more the cboe volatility index vix also known as wall streets fear gauge rose to 2939 points reporting by devik jain and anisha sircar in bengaluru editing by shounak dasgupta