market

The Dow hit a record high on Tuesday, boosted by banks and  industrial stocks as worries about the Omicron variant of the coronavirus subsided, while a fall in heavyweight technology stocks dragged the S&P 500 and the Nasdaq indexes lower.

The S&P 500 too scaled an intraday all-time high before falling, as the World Health Organization said more evidence is emerging that the coronavirus variant caused milder symptoms than previous variants.

Seven of the 11 major S&P sectors advanced. Value-oriented and cyclicals such as energy and financials led the pack, up 3.5% and 2.7%, respectively. The technology sector underperformed, down 1.6%