Markets have seen a significant shift from the tech sector, which had previously led the recovery of U.S. equities. The Dow Jones gained 1%, while the S&P 500 and Nasdaq saw declines. Tech giants like Nvidia, Microsoft, and Meta experienced drops in share prices, with Tesla facing a steep decline. In European markets, there was a notable focus on investor shifts; however, major indexes like the Stoxx 600 and DAX fell. The U.S. dollar continued its downward trend, reflecting economic uncertainty, down 11% since the year's start.
The Dow Jones rose 396 points, for a 1% gain, on Tuesday, as investors mostly rotated out of the tech sector, favoring the 30-company index.
European markets experienced investor shifts with the Stoxx 600 dropping 0.2%. Meanwhile, the U.S. dollar is down 11% in the year against similar currencies.
Tesla had the steepest drop, closing at $302 a share, 5.3% lower, attributed partly to chief executive Elon Musk's renewed feud with President Donald Trump.
The ongoing weakness in the dollar reflects a growing uncertainty that has pervaded the economy, resulting in the dollar's worst performance in the first half of a year since 1973.
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