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Market Digest: Dow Outperforms as UnitedHealth Surges, Tech Stumbles
Market Digest: Dow Outperforms as UnitedHealth Surges, Tech Stumbles
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BTCCSquare news:
The Dow Jones Industrial Average edged higher by 0.08% to close at 44,946.12, buoyed almost entirely by UnitedHealth Group's 12% rally—its strongest single-day gain since March 2020. The healthcare giant attracted heavyweight bets from Warren Buffett's Berkshire Hathaway, Michael Burry, and David Tepper, with Berkshire alone snapping up $1.6 billion in shares.
Elsewhere, profit-taking and semiconductor weakness dragged markets lower. Applied Materials plummeted 14%, pressuring the VanEck Semiconductor ETF (SMH) down 2%. Even Nvidia dipped nearly 1% amid a broader tech retreat. Consumer sentiment deteriorated as the University of Michigan's August index fell to 58.6, reflecting persistent inflation concerns.
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