The Dow Jones Industrial Average hit a new record high, building on its successful first part of the year, while the Nasdaq Composite struggled amid a slide in chipmaker shares.
The 30-stock average rose 28 points, or 0.1%, to hit a new daily high. The S&P 500 was little changed.
The Nasdaq Composite fell about 0.5% as investors dumped semiconductor names, taking profits after a string of stocks rose more than 80% in the first half of 2026. Micron fell 9%, though it was still up about 250% year-to-date. Sandisk fell 10%, losing some of its momentum after rising more than 850% in the first half of the year. Nvidia and Broadcom also fell by roughly 1% and 2%, respectively.
“The ‘Great Rotation’ trade continues in the [trećem tromjesečju] as the blue bore names of the Dow continue to attract inflows directly from recent profit-taking in tech stocks,” Jeff Kilburg, founder and CEO of KKM Financial, told CNBC. “This is extremely healthy and underscores the widening stock range for this continued bull market in its fourth year.”
The moves come after the major average closed out a strong start to 2026. In the first six months of the year, the Dow rose 8.9%, its best first-half performance since 2021. The broad S&P 500 rose 9.6% and the Nasdaq rose 12.8%. The small-cap Russell 2000 rose nearly 22%, posting its best performance in the first half of the year since 1991, Seebiz reports.
Shares of other major technology firms halted the Nasdaq’s decline. Meta rose nearly 10% after the firm said it would launch a cloud business and sell excess computing power – a move that could boost its revenues. Hyperscalers Microsoft and Apple also rose by roughly 3% and 2%, respectively.
