Dow rises more than 200 points to record, Nasdaq falls again as chipmakers struggle: Live updates

The major averages ended lower Wednesday: the Dow closed just below the flatline after erasing a 423.46-point jump that had taken it to record highs. The late reversal points to short-term caution in momentum and positioning, rather than a clear fundamental catalyst.

Analysis

The major averages ended lower Wednesday: the Dow closed just below the flatline after erasing a 423.46-point jump that had taken it to record highs. The late reversal points to short-term caution in momentum and positioning, rather than a clear fundamental catalyst.