Snowflake is trading 4.01% lower at $308.68 amid a broader technology selloff on October 22, 2026, as rising oil prices, geopolitical concerns and renewed doubts about returns on heavy AI spending weigh on risk sentiment.
- Snowflake announced a $3.5 billion convertible-notes offering on Tuesday.
- A report said shares fell 4% following the announcement, but available reporting does not establish the offering as the direct cause of the current decline.