The S&P 500 and Nasdaq Composite ended lower on Thursday in fickle trading, ultimately failing to regain ground lost during the previous day’s tech-triggered sell-off.
The Dow Jones Industrial Average hung onto its gains to close higher, after stronger-than-expected GDP data provided support, and small-cap stocks also rose as investors sought out value away from the megacaps.
The small-cap Russell 2000 gained, partially recouping Wednesday’s broad losses. The Dow was the best of the three main benchmarks as investors reassessed their recent flight to underperforming sectors.
Megacap stocks endured a volatile day. Having recovered from a shaky start, they were in mostly in positive territory at mid-afternoon, before some slipped late in the day.
Alphabet’s shares fell for a second straight day, but Tesla rose. Lackluster earnings from the Google parent and the electric vehicle maker had pummeled the so-called Magnificent Seven…
