United States stocks ended in a mixed fashion on Tuesday (Wednesday AEDT), with the Dow Jones Industrial Average surging to an all-time high as investors shifted from major technology names into blue-chip stocks.
The Dow climbed 559.3 points, or 1.2%, to close at 47,928.0, the S&P 500 added 14.2 points or 0.2% to 6,846.6, while the tech-heavy Nasdaq fell 58.9 points or 0.3% to 23,468.3 as traders rotated out of artificial intelligence-linked shares.
The move followed a sharp selloff in Nvidia-backed CoreWeave, which tumbled more than 16.3% after the cloud computing company trimmed its annual revenue forecast due to data centre disruptions.
Nvidia also lost nearly 3% after Japanese conglomerate SoftBank Group disclosed that it had sold US$5.8 billion worth of Nvidia shares, adding pressure to an already jittery AI sector that has driven much of Wall Street’s rally in recent years.
Sentiment was further dampened by weaker labour market data. ADP’s preliminary payroll figures showed that private employers shed an average of 11,250 jobs a week over the four weeks ended 25 October, signalling a potential cooling in hiring momentum.
In contrast, Paramount Skydance surged almost 10% after the newly merged entertainment company announced additional cost-cutting measures and pledged $1.5 billion in new investments for its streaming and studio operations.
The session came a day after U.S. indexes rallied across the board on optimism that the record-setting government shutdown could soon end.
The Senate on Monday passed a bill to reopen the government, sending it to the House of Representatives for a final vote. The proposed deal omits Democrats’ demand to extend Affordable Care Act subsidies but includes a provision for a separate vote on the tax credits in December.
U.S. bond markets remained closed on Tuesday in observance of the Veterans Day holiday.



