News that (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 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 stake in a new TikTok entity based in this country. The site's vaunted algorithm would stay in the hands of its current owner, China-based ByteDance.

The financial news agency said the idea was floated last week within the Trump administration. The report did not specify by which person or people.

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Source Fool.com