U.S. stock futures fell on Thursday night as Wall Street headed toward a losing week, and traders absorbed an ugly earnings warning from FedEx.

Dow Jones Industrial Average futures dropped by 142 points, or 0.46%. S&P 500 and Nasdaq 100 futures declined 0.56% and 0.64%, respectively.

Shares of FedEx plunged 15% in extended trading after the shipments company withdrew its full-year guidance, and said it will implement cost-cutting initiatives to contend with soft global shipment volumes as "macroeconomic trends significantly worsened."

The three major averages were on pace to notch their fourth losing week in five. The Dow Jones Industrial Average declined 3.70% this week, while the S&P 500 is 4.08% lower. The Nasdaq Composite is down 4.62%, headed toward its worst weekly loss since June.

During the regular session Thursday, the Dow dropped 173 points, or 0.56%, for its lowest close since July 14. The Nasdaq Composite slid 1.43%, while the S&P 500 fell 1.13%.

@Daily_Discussion