The Dow surged as much as 180 points and blasted to new record highs in early trading Thursday after Asian markets soared overnight as investors were hopeful for a Day 2 of the “Trump Bounce” and fears related to Donald Trump’s stunning election win gives way to hopes that the president-elect’s policies could boost the economy.
But the early rally faded slightly and broader stock indexes turned lower as tech stocks took a hit.
At 11:15 a.m. ET, the Dow Jones industrial average was up about 60 points, or 0.3%, after earlier making a new intraday high of 18,769.46 and eclipsing its closing record high of 18,636.05 notched in mid-August. The Dow jumped 256.95 points Wednesday to 18,589.69.
The broad Standard & Poor’s 500 stock index was down 0.4% and the Nasdaq composite slid 1.2%.