深夜！科技巨头暴跌，发生了什么？

Market Overview - The U.S. stock market showed mixed performance with the Dow Jones up by 0.38%, while the S&P 500 and Nasdaq fell by 0.72% and 1.38% respectively [1][2]. Federal Reserve Actions - The Federal Reserve announced a 25 basis point cut in the benchmark interest rate, reducing it to a range of 3.5% to 3.75%, marking the third consecutive rate cut totaling 75 basis points [2][3]. - Market expectations indicate a 22.1% probability of a further 25 basis point cut by January 2026, with a 77.9% chance of maintaining the current rate [2]. Oracle Corporation Performance - Oracle's stock plummeted over 14%, resulting in a market cap loss exceeding $90 billion following disappointing Q2 earnings [4][6]. - The company reported adjusted revenue of $16.1 billion, slightly below the expected $16.21 billion, with cloud revenue growth of 34% to $7.98 billion, but still under analyst expectations [6]. - Oracle's free cash flow was reported at -$10 billion for the quarter, raising concerns among analysts regarding cash flow management [6]. Analyst Reactions to Oracle's Earnings - Following the earnings report, several institutions lowered their price targets for Oracle, with JPMorgan reducing it from $270 to $230, and Baird from $315 to $300 [7]. - Other notable reductions include Royal Bank of Canada from $310 to $250, and Bank of America from $368 to $300 [7]. Impact on Related Stocks - The decline in Oracle's stock negatively affected related technology stocks, with Nvidia and Broadcom dropping over 3%, and Micron Technology and AMD falling nearly 4% [8]. - Chinese tech stocks also experienced declines, with Alibaba and Pinduoduo down over 3%, and other companies like Xpeng and NIO dropping over 2% [8].