US sharemarkets fell sharply on Wednesday as investors continued rotating out of large-cap AI leaders, extending a December pullback. The S&P 500 dropped 1.16%, the Nasdaq fell 1.81% and the Dow slipped 228 points, or 0.47%, leaving the S&P 500 and Dow on track for a fourth straight decline. Selling accelerated late in the session amid renewed concern about valuations and the financing risks tied to the sector’s data centre spending, after reports suggested Blue Owl Capital had pulled back from equity financing for a proposed US$10bn Oracle data centre in Michigan. Oracle disputed the reports and said the project remains on track, but the stock still fell about 5% and dragged the broader AI complex lower, including Broadcom, Nvidia, AMD, Alphabet and Tesla, while Microsoft edged higher.
In Australia, SPI 200 futures point to a weaker open, down 14 points, or 0.16%, at 8,547. Locally, ANZ and Elders are holding annual meetings today, while New Zealand releases third-quarter GDP data at 8.45am AEDT; offshore, attention turns to policy meetings from Sweden’s Riksbank, the Bank of England and the European Central Bank.
In company news,
Falcon Metals extends high-grade Bendigo-style gold zone with 41.9g/t hit at Blue Moon
Falcon Metals (ASX:FAL) has extended its Blue Moon gold discovery by 200m along strike after intersecting 2.75m at 41.9g/t gold, including 0.5m at 222g/t, in its first step-out diamond hole north of previous drilling. The result came from hole BMDD003 at the company’s 100%-owned Blue Moon project, located immediately north of the historic 22Moz Bendigo Goldfield, and is interpreted as the continuation of the same high-grade structure that previously returned 1.2m at 543g/t gold. Falcon said the intercept, which includes visible gold in quartz veins, confirms its geological model that the Garden Gully line of reef extends through its tenement. Drilling is continuing with two diamond rigs, with BMDD003 progressing toward a target depth of about 900m and a further step-out hole, BMDD004, now underway another 200m to the north. Managing Director Tim Markwell said the result increased confidence that the prolific Garden Gully system continues through Falcon’s ground, supporting the scale potential of the Blue Moon project.
Actinogen completes enrolment in pivotal Alzheimer’s trial
Actinogen Medical (ASX:ACW) has completed enrolment in its phase 2b/3 XanaMIA Alzheimer’s disease trial, with all 246 participants now randomised and on treatment, clearing the path for final topline results in November 2026. The double-blind, placebo-controlled trial is testing Xanamem, a once-daily oral drug designed to reduce elevated brain cortisol, over 36 weeks in patients with mild to moderate Alzheimer’s disease confirmed by the pTau181 biomarker. Actinogen said enrolment exceeded its original 220-patient target, increasing the statistical power of the study, and confirmed a formal interim safety and futility analysis will be conducted by an independent Data Monitoring Committee in late January 2026. All participants will be eligible to enter an open-label extension from Q1 2026. CEO Steven Gourlay said the company was entering the final phase of the trial with confidence in the timeline, while also progressing regulatory discussions and commercial planning.
Janison wins $21m New Zealand education contract in major offshore expansion
Janison Education Group (ASX:JAN) has secured a five-year national contract worth about $21m with the New Zealand Ministry of Education to deliver a new digital Student Monitoring, Assessment and Reporting Tool. The SMART platform will support twice-yearly bilingual assessments for students in Years 3 to 10 across reading, writing and mathematics, including Māori-language assessments, and will be delivered through Janison’s online assessment system. The contract represents one of the company’s largest international wins and extends its role beyond Australia in delivering national-scale assessment programs. Janison said the total contract value reflects minimum committed revenue, with first-year revenue expected to be about $3m, while additional work may be commissioned through separate statements of work. CEO Sujata Stead said the agreement demonstrated the scalability of Janison’s technology and its ability to support culturally responsive assessment at a national level.
