Shares of technology companies ticked up as a retreat from the sector slowed, with a wave of deals cushioning losses.

Shares of Apple, Microsoft and other tech giants initially sunk deeper into bear-market territory, before returning to the green.

Tesla shares also rose in volatile trade ahead of the electric-car maker's highly anticipated "Battery Day" product showcase.

Shares of Tesla rival Nikola plunged after founder and Executive Chairman Trevor Milton stepped down from the electric-truck maker with immediate effect in the wake of allegations from short seller Hindenburg Research that he and the company had made false statements to investors.

Separately, Nikola disclosed that it would use an outside supplier for the battery technology in its new semi-truck.

Oracle and TikTok clashed over the terms of the impending deal, with Oracle claiming that Chinese firm Bytedance would no longer own any of the after the American software maker and its partner Walmart took a combined 20% stake in TikTok Global. The complex deal was designed to avert a ban on the popular app on national-security concerns, as threatened by President Donald Trump.

Microsoft, which had also approached TikTok about a deal, plans to acquire the owner of the popular Doom videogame franchise for $7.5 billion, ZeniMax Media, in its biggest games acquisition.

Social gaming startup Playco Global raised $100 million in an early-stage fundraising round, giving it a valuation slightly above $1 billion, even as it remains in the game-development stage.

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