The Dow Jones Industrial Average climbed on Monday as investors piled into economic comeback plays after Senate approval of a new Covid stimulus package, while a continuous sell-off in high-flying tech shares put pressure on the broader market.
The blue-chip benchmark gained 306.14 points, or 1%, to 31,802.44 led by Disney. At its session high, the 30-stock average jumped 650 points to hit an intraday record high. The S&P 500 erased a 1% gain to close 0.5% lower at 3,821.35. The Nasdaq Composite slid 2.4% in volatile trading to 12,609.16 as Apple dropped 4.2% and Tesla fell 5.8%. Alphabet and Netflix both slipped more than 4%.
The tech-heavy benchmark closed more than 10% below its Feb.12 closing high, falling into correction territory.
Hmm ... Koala/Panda now got chance to smile back at Lion No King in the Zoo???...
