Stock Track | Oracle Plummets 5.01% Intraday Amid U.S. Tariff Threats on EU Goods
Stock Track01-21 02:46
Oracle's stock fell sharply by 5.01% during intraday trading on Tuesday, reflecting broader declines in big tech stocks. The drop was part of a market-wide reaction to new tariff threats by the U.S. government targeting imports from several European countries.
The sell-off was triggered by comments from former President Trump, who announced plans to impose additional 10% levies on goods from Denmark, Norway, Sweden, France, Germany, the Netherlands, Finland, and Britain starting February 1. The tariffs could rise to 25% by June 1 if no deal on Greenland is reached. This geopolitical uncertainty has rattled investors, leading to a downturn in tech shares, including Oracle.
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