Dow Hits Record High as Nasdaq 100 Drops 0.5% on AI, Chip Rotation
Updated
Updated · Bloomberg · Jun 4
Dow Hits Record High as Nasdaq 100 Drops 0.5% on AI, Chip Rotation
3 articles · Updated · Bloomberg · Jun 4
Summary
The Dow Jones Industrial Average closed at a record high while the S&P 500 added 0.4%, even as the Nasdaq 100 slipped 0.5% after an intraday drop of as much as 1.6%.
Chipmakers and other AI-linked stocks led the retreat as investors rotated into a broader mix of sectors, cushioning the wider US market from the tech pullback.
US stock futures turned lower afterward, and equity-index futures for Japan and South Korea pointed to losses, while Hong Kong contracts signaled gains.
Middle East diplomacy hopes also shaped sentiment, with investors weighing whether easing regional tensions could offset the drag from the AI share pullback.