Bloom Energy Corp shares plunged 5.09% during intraday trading on Wednesday, erasing earlier pre-market gains that had been driven by a stellar second-quarter earnings report.

The reversal came as a broad market sell-off took hold, with the Dow Jones Industrial Average dropping 1.56%, the S&P 500 falling 0.84%, and the Nasdaq Composite declining 1.15%. Investors were cautious ahead of the Federal Reserve's monetary policy decision, while an 8% surge in oil prices and simmering Middle East tensions added to the negative sentiment across equities.

The decline occurred despite Bloom Energy reporting record Q2 revenue of $1.065 billion and raising its full-year guidance. The company had initially surged in pre-market trading following the results, but the positive earnings momentum was overwhelmed by the broader market downturn as the session progressed.