Stock Market Today: Dow closes above 41,000 for first time as rotation gains steam

Investing.com-- Dow jumped Wednesday, led by financial and energy as the rotation away from tech was accelerated following an Nvidia-led retreat in tech on geopolitical jitters.) fell more than 6% on concerns the U.S. is looking to deepened its ban on companies exporting chipmaking equipment to China.

As well as Biden, Donald Trump also raised geopolitical tensions by stating that Taiwan should pay the U.S. for supplying defense equipment as"it does not give the country anything," causing Taiwan Semiconductor Manufacturing stock rose nearly 4% after the the healthcare giant reported a robust second quarter, with both earnings and revenue surpassing Wall Street estimates, driven by strong sales of its drugs.

Richmond Fed president Tom Barkin, meanwhile, said he was started to see the slowdown in inflation broaden out, but added that the central bank would debate whether inflation is still elevated at the upcoming July meeting.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.

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