Dow Jones (INDEXDJX:.DJI) spikes 700 points as price-weighted stocks outpace tech slide
Dow jumps more than 700 points as industrials and banks surge, Nasdaq lagsLate Thursday morning, the Dow rallied 763.79 points to 52,612.69 as tracked by MarketWatch/FactSet. The move left the S&P 500 up 29.46 points. But the Nasdaq fell 86.98 points, weighed down by Apple, Microsoft Corp., Nvidia Corp. and Amazon.com Inc.. No clear tech bounce for the tape. MarketWatch figures each $1 move in a Dow component moves the index by 6.16 points. The top five names on the upside—Caterpillar, Goldman Sachs, Honeywell, UnitedHealth Group Inc., and American Express Co.—added around 666 points to the Dow. But Apple, Microsoft, Nvidia, and Amazon took off about 184 points.