Similarly to Monday's trade, the Dow industrial average closed softly higher, while the S&P index was near unchanged and the Nasdaq index was lower.

Looking at the closing levels of the indices:

• Dow industrial average rose 537.05 points, or 1.03%, to 52,752.28.
• S&P rose 15.60 points, or 0.21%, to 7,428.77.
• Nasdaq index fell 55.17 points, or 0.22%, to 24,876.91.
• Russell 2000 index rose 5.76 points, or 0.20%, to 2,953.80.
• Nasdaq 100 fell 276.08 points, or 0.98%, to 27,763.13.

Although the Nasdaq index finished lower on the day, it erased a decline of 351.08 points at session lows. Chip and AI stocks continued to suffer as investors kept getting squeezed out after the too-good-to-be-true gains seen in the first six or so months of the trading year. The split between the Dow and the Nasdaq also underscored how quickly market leadership has become more uneven, with strength concentrated outside parts of the technology complex.

Even so, some stocks remained sharply higher on the year despite the latest declines. SanDisk tumbled $180, or 14.02%, on the day, but was still up 363% on the year, after closing 2025 at $237.

Other highflyers with similar patterns include:

• Marvell, lower 7.8% on the day but still up 105% for the year.
• Intel, lower 5.56% on the day but still up 134.62% for the year.
• AMD, lower 8.16% on the day but still up 112% for the year.
• Nebius, lower 9.8% on the day but still up 102.62% for the year.
• Dell, lower 8% on the day but still up 211% for the year.
• Micron, lower 8.85% on the day but still up 188% for the year.
• Arm Holdings, lower 8.11% on the day but still up 123.9% for the year.

That may be trouble down the road if the decline starts to pick up more steam in that sector, particularly because many of the names that had led earlier gains are still carrying large year-to-date advances.