今夜，史诗级暴跌！

Core Viewpoint - The article highlights the contrasting performance of U.S. stock indices, with the Dow Jones reaching a historic high while the Nasdaq experienced a significant drop due to Oracle's disappointing earnings report, raising concerns about the AI investment bubble [2][4]. Group 1: Market Performance - The Dow Jones index rose approximately 400 points, reaching a new all-time high of 48,527.95, benefiting from a 25 basis point interest rate cut by the Federal Reserve [2][3]. - In contrast, the Nasdaq index fell over 1%, primarily driven by Oracle's stock plummeting by 16%, which led to a market capitalization loss of $102 billion [4]. Group 2: Oracle's Earnings Report - Oracle reported quarterly revenue of $16.1 billion, a 14% year-over-year increase, but its cloud revenue growth of 34% fell short of expectations [6][7]. - The company raised its capital expenditure guidance for 2026 by $15 billion to $50 billion, which further fueled market skepticism regarding its ability to deliver on future commitments [4][7]. - Analysts expressed concerns that Oracle's failure to meet its targets has reignited doubts about the valuation of tech stocks, particularly regarding the substantial investments in AI infrastructure [7][9]. Group 3: Broader Market Implications - The disappointing earnings from Oracle have led to a broader sell-off in AI-related tech stocks, with significant declines observed across the sector [8][9]. - Market sentiment has shifted, with investors becoming more cautious about AI-related spending, contrasting sharply with the previous excitement surrounding capital expenditure increases [9]. - The article notes that despite the Fed's interest rate cut, Oracle's impact on the market was profound, indicating a concentrated focus on AI themes among investors [9].