The Dow Jones Industrial Average closed at 51,999.67 on June 16, notching a 0.64% gain and its second consecutive all-time high. The other two major indices weren’t invited to the party.
The S&P 500 slipped 0.57% to 7,511.35, while the Nasdaq Composite dropped 1.15% to finish at 26,376.34.
Tech gets the cold shoulder
The divergence tells a clear story: investors are pulling money out of high-valuation technology and semiconductor stocks and parking it in the kind of cyclical, value-oriented companies that dominate the Dow.
Earlier in June, the Nasdaq suffered a 4.18% drop driven by weakness in chip stocks. The sector has faced persistent volatility throughout 2026, and Monday’s session was another chapter in what’s becoming a familiar pattern.
