Nasdaq stocks fall -1.27%
The major stock indices have seen a rotation out of the tech heavy Nasdaq stocks and into the big cap stocks of the Dow industrial average.
- The Nasdaq fell -88 points or -1.3%. The fall was particularly impacted by chip stocks with Intel down -1.7%, nVidia tumbed -6.78%. Micron Technology - another high flyer in the chip sector of late - fell -8.9%. Other tech high flyers were also hit hard with Amazon, Apple down.
- The S&P is ending near unchanged levels (down -0.97 points or -0.04%).
- The Dow industrial average rose 103.97points or +0.44%. JP Morgan rose 2.3% and American Express rose 1.3%. Disney was also a big gainer rising close to 1.77%.
The Dow closed at a record level today.