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(Reuters) -Nasdaq futures slid over 1% on Wednesday, as tech giants Alphabet and Microsoft's projections for rising AI costs disappointed investors, dragging megacap and chip stocks, ahead of the U.S. policy decision expected later in the day. Alphabet slumped 5.7% in premarket trading after the company reported holiday-season advertising sales below expectations and projected higher spending this year on items such as servers to power artificial intelligence. Microsoft, too, lost 0.9% after forecasting rising costs to develop new artificial-intelligence features that eclipsed a quarterly results beat.

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