FX.co ★ S&P and Nasdaq Fall, Oracle Sinks

On Thursday, the S&P 500 experienced a decline of 0.4%, while the Nasdaq fell by 0.8%, driven by a widespread sell-off in technology stocks. This downturn followed lackluster results from Oracle, a company often seen as a key indicator of the AI investment trend. Oracle's shares dropped over 14% after the company reported lower-than-expected revenues, fell short on cloud sales estimates, and provided guidance that left investors underwhelmed. The semiconductor sector also saw significant decreases: Nvidia's stock fell by 2.7%, Broadcom decreased by 2.1% ahead of its earnings announcement post-market close, and both AMD and Applied Materials experienced notable losses of 3.2% and 2.6%, respectively. Additionally, most other major tech companies saw their stocks decline, including Apple (-0.8%), Amazon (-0.1%), Alphabet (-1.2%), Meta (-0.6%), and Tesla (-1.5%). Microsoft, however, managed a slight uptick, gaining 0.2%. In contrast, the Dow Jones rose by over 300 points, bolstered by strong performances from Visa (+3%), 3M (+2.1%), Walt Disney (+2.1%), and Home Depot (+2.1%).