Dow industrials book second straight gain to end about 0.5% from record high but tech selloff sends Nasdaq skidding to 3% weekly loss

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U.S. stocks on Tuesday finished on a mixed note, with the Dow Jones Industrial Average, outperforming its benchmarks counterparts and small-capitalization and value-oriented stocks performing best of all. Meanwhile, the Nasdaq Composite Index finished lower for a second straight session as investors, preparing for a future where a vaccine/and or treatment for coronavirus, sold large-capitalization technology-related stocks and those which have been buoyed by popular trends fostered during the COVID-19 pandemic. The Dow closed up by about 260 points, or 0.9%, at about 29,420, just shy of its Feb. 12 record high at 29,568.57. The blue-chip index handily outperformed its benchmark peers. The S&P 500 index closed down 0.1% at 3,545, weighed by a 1.9% decline in information technology and a 1.1% drop in the consumer discretionary sector ; while the Nasdaq Composite finished down 1.4%, bringing its weekly decline thus far to 2.9%. Meanwhile, the small-capitalization-focused Russell 2000 index closed up around 1.8% (on a preliminary basis) and is on pace for a weekly gain of over 5%, according to FactSet data. Markets continue to focus on progress toward a coronavirus vaccine evidenced by reports from Pfizer and the official conclusion of the presidential election, which is projected to be won by former Vice President Joe Biden.
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