The 30-stock index dumped 216.73 points to close Tuesday at 38,852.86. The index was weighed down by a slide in Merck and other health names.
The S&P 500 inched forward 1.32 points to 5,306.04.
The NASDAQ barreled ahead 99.09 points to 17,019.88. The technology-heavy index was buoyed by Nvidia’s jump of more than 6%.
Those moves come near the end of a strong month, with all three major indexes recording fresh record levels in May. Softer inflation data earlier this month and better-than-expected quarterly earnings reports lifted sentiment, with the former suggesting Federal Reserve rate cuts could come earlier than investors had anticipated. The Dow has added around 3%, while the S&P 500 gained 5% and NASDAQ has climbed more than 8%.
Looking ahead, investors are gearing up for the personal income and expenditures report, which includes the PCE inflation reading, for April out Friday.
Prices for the 10-year Treasury collapsed, raising yields to 4.54% from Friday’s 4.47%. Treasury prices and yields move in opposite directions.
Oil prices picked up $2.45 to $80.17 U.S. a barrel.
Gold prices added $24.90 to $2,359.40.