Dow retreats from a weekly high as bank shares slide
Blue chips turned lower after the open while the Nasdaq Composite tested record highs.
By BBCorp
What happened
The Dow Jones Industrial Average rose before the opening bell on Tuesday to its highest level since September 14, then turned lower once trading started in New York, trading near 51,800, below Monday's close. Bank shares led the decline. The Nasdaq Composite tested record highs.
Why it matters
The split tells you where money is going. Banks are sensitive to the interest-rate outlook and to credit conditions, while technology shares have been driven by the build-out in artificial intelligence. When the Dow and the Nasdaq diverge, it usually reflects a rotation between sectors rather than a broad move in or out of stocks. Swings in US equities also feed into risk sentiment across currencies and gold.
What to watch
Fed officials' comments, oil and Iran headlines, and whether the Nasdaq holds its record levels.
US stocks