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Dow ends 270 points higher, outperforms as tech stocks weigh on Nasdaq, S&P 500
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The Nasdaq is once again losing ground while the S&P 500 is flat and investors are fleeing technology to oil, defense and basic consumption.
Rotation bites tech as Dow leads gains
US sharemarkets finished mixed on Thursday as investors rotated away from mega-cap technology and into more traditional parts of the market. The Dow rose 270 points, or 0.55%, while the Nasdaq fell 0.44%. The S&P 500 was essentially flat, up 0.01%, with gains in most sectors offset by a sharp slide in information technology, which dropped more than 1%. This wasn’t a risk-off day — it was a leadership change. The market held up, but the compositi…
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