US equity markets closed Thursday with a pronounced split between value and growth, as the Dow Jones Industrial Average climbed 0.6% to a record high while the Nasdaq Composite plunged 4.6%.
The S&P 500 fell 2.0%, caught in the crossfire of a broad-based rotation away from technology stocks.
The divergence underscores intensifying selling pressure in large-cap tech shares, which have been the primary driver of market volatility in recent sessions.
Investors appear to be shifting capital toward more defensive, industrial, and financial sectors, boosting the Dow’s performance even as the broader market sentiment cooled.
The move reflects a growing caution among traders regarding the sustainability of recent tech valuations amid mixed economic data and geopolitical uncertainties.
This rotation marks a significant shift in market dynamics, with the Nasdaq’s steep decline highlighting the fragility of the tech rally.