Dow rallies, tech slips as chip selloff keeps pressure on Nasdaq

The big picture. U.S. stocks finish mixed, with the Dow Jones up 1.0% and the S&P 500 up 0.2%, while the Nasdaq Composite falls 0.2%. The Russell 2000 also edges higher, up 0.2%.

The move comes with a clear style rotation: Health rises 2.4%, Staples add 2.0%, Materials gain 1.9%, and Comm Svcs climb 1.9%, while Tech drops 1.8% and Energy falls 1.4%.

Options flow shows some caution, with the SPY put-call ratio at 1.19 and QQQ at 1.05. The VIX closes at 18.21, down 2.5%, even as the VIX 9-day rises 2.4%.

Overseas, most major indexes post gains. The FTSE 100 rises 0.8%, Germany's DAX adds 1.0%, Japan's Nikkei 225 gains 0.5%, and Australia's ASX 200 climbs 1.4%. China's Shanghai Composite rises 1.2%, while the Stoxx 600 is nearly flat at 0.0%. Bitcoin inches up 0.2% to 63,853.2, and the broader crypto market cap rises 0.1% to $2.3T.