Wall Street Mixed: Dow Soars 559 Points as Nasdaq Slips; Global Markets Show Divergent Moves

The Dow surged 1.18% led by Nike and biotech gains, while Nasdaq fell on Nvidia sell-off. Pharma and energy sectors strengthened. Asian markets were mixed, but European stocks gained broadly, reflecting cautious global sentiment amid ongoing market u

The Dow jumped 559.33 points (1.18%) to finish at 47,927.96 while the NASDAQ slumped 58.87 points (0.25%) to close at 23,468.30 and the S&P 500 rose 14.18 points (0.21%) to end at 6,846.61.

Wall Street's mixed performance reflects traders' uncertainty about the market outlook and potential tech bubble risks after recent volatility. Monday's rally, fueled by hopes for an end to the record U.S. government shutdown, helped stocks rebound from last week's losses, yet valuation concerns linger. Traders have mostly downplayed the shutdown's economic impact. The Dow's gains were driven by strong performances from Nike, Merck and Amgen.

Nvidia (NVDA) slumped 3.1% weighing on NASDAQ after Softbank sold its entire stake in the chipmaker for more than $5 billion. Pharmaceutical stocks was significantly strong with the NYSE Pharmaceutical Index surging 2.4%. Crude oil sharply increased contributing to considerable strength among energy stocks which are moving higher along with biotechnology and healthcare stocks. Semiconductor stocks came under pressure, dragging the Philadelphia Semiconductor Index down by 2%.

Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index edged down by 0.1% and China's Shanghai Composite Index fell by 0.4% while Hong Kong's Hang Seng Index rose by 0.2%. The major European markets all moved to the upside on the day. While the German DAX Index rose 0.53%, the U.K.'s FTSE 100 Index climbed 1.15% and the French CAC 40 Index gained 1.25%.

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