ORCL is trading at $140.52 (-4.19%) as a broad tech sell-off and SaaSpocalypse fears drive shares lower, extending a multi-day decline from its January 27 high of $174.90.
- The Nasdaq Composite fell 1.46% following weak jobless claims data (231,000) and mounting recession fears.
- AI sector concerns, fueled by Alphabet's capex and Anthropic's new tools, have pressured software stocks despite no company-specific news for Oracle today.
- Oracle's recent $50B debt raise for AI infrastructure adds further pressure as investors shift to a risk-off stance.