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.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Today: Dow in record close as Powell acknowledges inflation progressStock Market Today: Dow in record close as Powell acknowledges inflation progress
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow closes at a one-month high as tech stocks lagStock Market Today: Dow closes at a one-month high as tech stocks lag
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow closes just shy of record as earnings season gets underwayStock Market Today: Dow closes just shy of record as earnings season gets underway
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: Dow delivers best day in more than a year on stronger earningsStock Market Today: Dow delivers best day in more than a year on stronger earnings
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P500 ends above 5,500 for first time as record run continuesStock Market Today: S&P500 ends above 5,500 for first time as record run continues
Source: Investingcom - 🏆 450. / 53 Read more »

Stock Market Today: S&P 500 closes above 5,600 for first time; inflation data eyedStock Market Today: S&P 500 closes above 5,600 for first time; inflation data eyed
Source: Investingcom - 🏆 450. / 53 Read more »