US Stock Market Moves: Oracle Plunges on October 29 Due to Lower-than-Expected Big Tech AI Spending and Tech Stock Sell-Off

Oracle October 29 Drop Interpretation

Keywords: Lower-than-expected AI spending by major companies, tech stock sell-off

1. On October 28, both Microsoft and Alphabet released quarterly capital expenditures that were lower than market expectations. On October 29, AI cloud-related stocks declined, and Oracle, as an AI cloud infrastructure stock, also went down accordingly.

2. On October 29, major tech stocks were broadly sold off, with the Nasdaq Composite Index and the S&P 500 Index both moving lower, causing Oracle to decline along with the tech sector.

3. On October 29, Oracle’s share price retreated after a significant rise during its Investor Day on October 28.

(Disclaimer: This content is summarized from publicly available information using AI technology for reference only and does not constitute investment advice.)