Why Oracle Stock Slipped by 3% Today

News that Oracle (NYSE: ORCL) might get involved in the controversy-laden saga that is TikTok sent the American company’s shares down on Tuesday. Oracle’s share price fell by 3% on the day, a steeper tumble than the 1.1% slip of the S&P 500 (SNPINDEX: ^GSPC).

That morning, citing unnamed “people familiar with the matter,” Bloomberg reported that Oracle is considering a proposal whereby it would provide security guarantees for TikTok’s U.S. operations, in return for taking a small…