Dow Jones Slumps as Investors Rotate Out of Financials and Into Tech
The Dow Jones Industrial Average closed at 51,863.69 on Tuesday, down 185.14 points or 0.36% from Monday's close of 52,048.83.
This decline marks a reversal from the previous day's gain, when the index rose by 366.19 points or 0.71%
The Dow's weakness on Tuesday can be attributed to a sector rotation, with investors moving out of financial stocks and into technology.
JPMorgan Chase led the decline in bank stocks, falling more than 3%, while Visa lost about 2% and Goldman Sachs and Caterpillar each slipped around 1%