A stark divergence is defining US equity markets as selling pressure in large-cap technology shares intensifies, creating a tale of two indices.
The rotation out of tech stocks has shifted into overdrive, with the Nasdaq Composite posting significant losses while the broader S&P 500 also retreated.
6%, the Dow Jones Industrial Average managed to close at a record high for the week, gaining 0.
This split highlights a growing disconnect between growth-oriented tech valuations and the relative stability of industrial and value sectors.
The market move underscores a sharp repricing of risk within the US equity complex.
While the Nasdaq Composite plunged 4.6%, the Dow Jones Industrial Average managed to close at a record high for the week, gaining 0.6%.
The S&P 500 fell 2.0%, caught in the middle of this broad-based selling in technology shares.