Traders say the market’s hot streak is in large part thanks to confidence about the reopening of the economy.
The Nasdaq Composite rallied to a record high on Tuesday, briefly breaking above 10,000 for the first time, as traders loaded up on major technology names while taking profits from stocks that benefit from the economy reopening.
Meanwhile, the 30-stock Dow Jones Industrial Average slid 200 points, and the S&P 500 dropped 0.5 percent. Traders say the market’s hot streak over the last two months is in large part thanks to confidence about the reopening of the U.S. economy and a barrage of government stimulus.
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