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Tech Down Amid Doubts On TikTok Deal -- Tech Roundup

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09/17/2020 | 05:22pm EDT

Shares of technology companies fell amid doubts about Oracle's attempt to buy into Chinese video-sharing service TikTok.

The U.S. has reservations about the planned purchase of a minority stake in TikTok's U.S. operations from Chinese owner Bytedance, while Bytedance warned that the deal would also have to undergo a Chinese regulatory review. Under the latest iteration of a fluid deal, Oracle and Walmart could together own a significant stake of a new entity, which could satisfy U.S. demands for a change in control.

Japanese electronics giant Sony saw shares rise after it said it would launch its PlayStation 5 videogame console on Nov. 12, setting up a two-player battle with Microsoft and its Xbox Series X console over holiday sales.

Facebook is moving to curb internal debate around divisive political and social topics, Chief Executive Mark Zuckerberg said in the wake of a spate of disputes and criticism fueled discord among staff.

Shares of data-management firm Snowflake fell significantly Thursday but remain sharply higher from their initial-public offering price after doubling in value on their debut.

 Write to Rob Curran at rob.curran@dowjones.com 

Stocks mentioned in the article
ChangeLast1st jan.
FACEBOOK INC -0.22% 278.12 Delayed Quote.35.80%
MICROSOFT CORPORATION 0.04% 214.89 Delayed Quote.36.11%
SNOWFLAKE INC. 9.79% 297.09 Delayed Quote.0.00%
SONY CORPORATION -1.01% 7816 End-of-day quote.5.61%
WALMART INC. -0.59% 143.55 Delayed Quote.21.51%
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