Nasdaq Hits Record High as Dow Falls Sharply

The Nasdaq Composite index rose 0.3% on Tuesday morning and set a fresh intraday record, while the Dow Jones Industrial Average fell 0.6%. The S&P 500 essentially stayed flat with a 0.1% drop.

JPMorgan Chase led the decline in financial stocks, dropping 3.5% and taking out 72 points from the Dow. Other financial stocks like Travelers and Visa also declined, accounting for another 115 points lost by the index.

The Nasdaq's gain was driven by memory stocks, with Sandisk rising 6.5% and Micron Technology jumping 3.6%. This came as both long- and short-term Treasury yields slid slightly lower today.