U.S. markets closed mixed Tuesday as technology stocks weighed on major indices, with the Nasdaq leading declines at -0.68% to 21,724. The S&P 500 fell 0.34% to 6,558, while the Dow Jones showed relative resilience, dropping just 0.17% to 46,145. Small-cap stocks bucked the broader trend, with the Russell 2000 gaining 0.54% to 2,498.
The technology sector faced particular pressure as cybersecurity concerns mounted following Zscaler's disappointing results and guidance. The cloud security provider's 8.16% plunge highlighted ongoing challenges in enterprise IT spending as companies reassess budgets. Meanwhile, elevated volatility persisted with the VIX holding at 27.4, suggesting continued investor uncertainty.
Energy emerged as a bright spot, led by Marathon Petroleum's impressive 4.89% surge to $243.91 as refining margins expanded. Gold reached new heights at $4,320, reflecting ongoing safe-haven demand amid geopolitical tensions. The divergence between large-cap tech weakness and small-cap strength suggests investors are rotating toward more domestically-focused companies.
Despite the mixed session, underlying market dynamics remain fluid as earnings season approaches and investors weigh economic data against persistent inflation concerns.