The S&P 500 fell 0.4% and the Nasdaq dropped 0.8% on Thursday, pressured by a broad sell-off in tech shares after weak results from Oracle, a company widely viewed as a bellwether for the AI investment boom. Oracle sank more than 14% after reporting softer-than-expected revenue, missing estimates on cloud sales, and issuing guidance that disappointed investors. Chipmakers also traded sharply lower: Nvidia lost 2.7%, Broadcom fell 2.1% ahead of its earnings release after the closing bell, and AMD (-3.2%) and Applied Materials (-2.6%) posted steep declines. Most other megacaps were in the red as well, including Apple (-0.8%), Amazon (-0.1%), Alphabet (-1.2%), Meta (-0.6%), and Tesla (-1.5%). Microsoft, however, edged up 0.2%. In contrast, the Dow Jones gained more than 300 points to hit a new record high, supported by strong performances from Visa (+3%), 3M (+2.1%), Walt Disney (+2.1%), and Home Depot (+2.1%).
