Dow Hits Record High Amid Tech Slump, Bitcoin Falls Below $58,000

The US stock market showed mixed results on Thursday as major technology stocks declined. The tech-heavy Nasdaq Composite fell 0.5%, while the Dow Jones Industrial Average rose 161 points, or 0.3%, to a new all-time intraday record of 52,655.66.

The S&P 500 was nearly flat and showed little overall movement. Healthcare, finance, and industrial companies led the gains in the Dow, with Johnson & Johnson rising more than 1% and JPMorgan Chase gaining over 2%. Caterpillar surged 5%, contributing significantly to the index's rise.

Bond market reaction was slight, with U.S. Treasury yields moving lower after the inflation report. Gold prices fell sharply, down 1.73%, while Bitcoin dropped below $58,000 due to a wave of forced selling in the cryptocurrency market. Oil prices also declined, returning to levels seen before the Iran conflict disrupted global energy markets.