As investors attempted to move past a sharp sell-off earlier this month, the Dow Jones Industrial Average closed at a record high on Monday.
The 30-stock index finished at 41,240.52, up 65.44 points, or 0.16%. It rose more than 200 points, or 0.6%, to establish a new intraday record earlier in the day, but it later withdrew from that level. While the Nasdaq Composite fell 0.85% to close the day at 17,725.76, the S&P 500 fell 0.32% to 5,616.84.
It also looked like traders were shifting from tech to other sectors of the market. 1% decreased in IT, but more than 1% rose in the S&P 500 energy sector.
With its earnings release scheduled for this Wednesday afternoon, Nvidia closed 2.3% lower than expected.
Traders have been harping on this event as being crucial to the market and the AI fervour that has propelled this bull market. Micron and Broadcom, two other chip stocks, also saw a decline.
Source (CNBC)
