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The Dow Jones Industrial Average spiked to a fresh record high on Thursday.

The Dow Jones Industrial Average reached a new record high on Thursday.

KEY POINTS
The Dow Jones Industrial Average spiked to a fresh record high on Thursday, while the Nasdaq Composite tumbled as investors pulled out of chip stocks and shifted towards non-tech stocks. The rotation took place due to a sell-off in Broadcom that led investors to pare exposure to stocks that had links to artificial intelligence. Experts believe that this comes as a stark reminder that just like other sectors, not all stocks are the same in the AI sector and the sentiment has been mixed given AI disruption and geopolitical tensions.
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