Major US indices closed mixed as tech shares retreated sharply while the Dow industrials edged higher in sector rotation.
US equities ended the session mixed as a rotation out of technology stocks weighed on the Nasdaq and S&P 500, while the Dow industrials posted modest gains. Qualcomm plunged 11.66%, Intel dropped 6.81%, and SanDisk fell 5.56%, though all three remain sharply higher for the month. The Nasdaq declined 0.71%, the S&P 500 slipped 0.16%, and the Dow rose 0.11% by close.
Earlier in the session, losses were steeper, with the Nasdaq down as much as 534.90 points, the S&P 500 off 74.31 points, and the Dow near 400 points lower. The pullback followed a strong rally in tech shares, suggesting a consolidation phase rather than a broader downturn. Industrials and other cyclical sectors outperformed, reflecting shifting investor sentiment.
Trading volumes remained elevated as markets digested recent gains and repositioned ahead of upcoming economic data. The mixed close left major averages well off their intraday lows, signaling resilience amid sector rotation.