Overnight Futures - SnapShot

Asian stocks tumbled Friday after the U.S. central bank unexpectedly raised interest rates for emergency bank loans, triggering investor fears that growth could slow in the world's largest economy. The Fed chose to bump up the so-called "discount" lending rate by one-quarter point to 0.75 percent. It takes effect Friday.

Markets in China and Taiwan are closed this week for the Lunar New Year holiday.

Hong Kong's Hang Seng stock index led decliners, diving 477.27 points, or 2.3 percent, to 19,944.88 while Japan's Nikkei 225 stock average dropped 212.11, or 2.1 percent, to 10,123.58.

South Korea's Kospi declined 27.29, or 1.7 percent, to 1,593.90. Indonesia and India both fell 1 percent.

How will Europe fair, later today??