Investors favored the energy and financials sectors, which boosted the Dow's performance. This shift in focus led to a divergence in US stocks, with the Dow Jones Industrial Average jumping 0.7% while the tech-heavy Nasdaq Composite fell more than 1%.
The Nasdaq fell this Monday due to a continued slide of chip heavyweight Nvidia, which experienced a more than 6% drop, dragging down the tech-heavy index. Investors moved into energy and financial sectors, causing the Dow Jones Industrial Average to jump 0.7%.
The S&P 500 has increased by more than 4% this quarter, driven by an AI-driven rally.