Dow rises 0.17% as NASDAQ and S&P fall
The Dow industrial average rose by 86.03 points or 0.17% to 50,877.10.
The NASDAQ index fell 250.84 points or 0.97% to 25678.82, while the S&P index fell 19.06 points or 0.26% to 7386.66.
Technology and AI-linked stocks sold off sharply due to concerns about high valuations, particularly in chipmakers, after Broadcom’s disappointing forecast.
Rate-hike fears also contributed to the decline, with a 70% probability of rates rising by December, following May jobs growth of 172,000, which doubled consensus expectations.