US stock market futures slumped on Thursday, with disappointing results from Oracle sending technology stocks lower globally.
Futures contracts tracking the tech-heavy Nasdaq 100 index fell 1.1 per cent in early trading, and the S&P 500 was poised to drop 0.8 per cent.
In earnings published after the market closed on Wednesday, Oracle’s third-quarter revenue of $16.2bn fell short of analysts’ estimates, bringing a swift end to a stock market bounce prompted by the Federal Reserve’s decision to cut interest rates earlier in the day.
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