U.S. stock futures fell sharply on Wednesday night, with a steep drop in Oracle shares reigniting worries over the sustainability of artificial intelligence–related spending. These fears overshadowed the Federal Reserve’s dovish policy actions earlier in the day. S&P 500 futures fell to 6,832.50, Nasdaq 100 futures slid 1.4%, and Dow futures declined 0.4%.
Oracle’s stock tumbled more than 10% in after-hours trading after the company issued a disappointing outlook and sharply increased its capital expenditure plans for fiscal 2026. The move sparked fresh questions about how the firm intends to finance its expanding AI infrastructure and whether those investments can translate into meaningful revenue. Selling pressure quickly rippled through the tech sector, dragging down other major names including Nvidia, AMD, Broadcom, TSMC, and Marvell.
This downturn came despite supportive actions from the Federal Reserve earlier in the day. The Fed cut rates by 25 basis points and announced plans to resume purchases of short-term Treasuries to improve liquidity—moves that initially helped lift Wall Street during regular trading hours. However, renewed concerns about inflated AI valuations ultimately dominated sentiment, keeping futures under pressure ahead of upcoming earnings from Costco, Broadcom, and Micron.