Dow Turns Higher, S&P 500 and Nasdaq Decline

The split between the Dow and the tech-heavy S&P 500 and Nasdaq points to rotation rather than a broad risk-off move, with the divergence suggesting investors are favoring different parts of the market under the same macro uncertainty. That the Dow can turn positive while the other two decline indicates the volatility is uneven, not uniform. Whether this divergence persists or the indices reconverge is the open question worth watching.