Dow rises 100 points to another record, but sell-off in Big Tech drags Nasdaq down 2%; European markets close mixed as investors weigh inflation and monetary policy 
The Dow Jones Industrial Average climbed to another record high on Monday as investors dumped Big Tech stocks and bet on companies leveraged to a strong economic comeback. The divide between value parts of the market and growth was significant with the tech-heavy Nasdaq Composite losing 2% as the Dow soared. 
The blue-chip gauge rose 130 points to an intraday record high, boosted by a jump in Dow Inc and Chevron shares. The Dow jumped more than 300 points at one point. The S&P 500 dipped 0.5%. The Nasdaq Composite dropped 2.1% as major technology shares came under pressure.European stocks closed mixed on Monday as investors weighed the prospect of lower interest rates for longer on the back of subsiding inflationary pressures. 
Meanwhile, tech stocks pulled back from Friday’s big gains. Tesla dropped more than 4%. Facebook fell over 4%, while Alphabet dipped more than 2% after a downgrade by Citigroup. Amazon also slid more than 2%. Cathie Wood’s Ark Innovation ETF fell more than 4% to its lowest level since November. 

The pan-European Stoxx 600 ended the session slightly above the flatline on the first trading day of the week, with basic resources stocks jumping 2.2% while tech stocks fell 1.4%. 
In terms of individual share price movement in Europe, British polymer company Victrex climbed 7.3% toward the top of the Stoxx 600 after reporting a 5% rise in sales for its fiscal first half, leading JPMorgan to upgrade the stock to “overweight” from “neutral” and raise its price target. 
Source: CNBC