Nasdaq Dips, Dow and S&P Inch Up

Major US indices closed mixed yesterday. The tech-heavy Nasdaq Composite Index dropped 0.2 per cent. Conversely, the Dow Jones Industrial Average as well as the S&P 500 both added over 0.1 per cent.

Meanwhile, the indices logged weekly losses as fear about elevated tech sector valuations and a highly concentrated market weighed on investors’ sentiment. For the week, the Nasdaq plummeted around three per cent, marking its biggest weekly loss since early April. The S&P 500 lost 1.6 per cent while the Dow shed 1.2 per cent.