The Dow Jones Industrial Average closed above 44000 for the first time on record Monday. The index added around 304 points, or 0.69%, to 44293.13. The climb from 43000—hit 20 trading days ago—was led by Goldman Sachs,

The historic addition of artificial intelligence (AI) colossus Nvidia may spell trouble for Wall Street's most iconic index.

United States equities were lower at the close on Tuesday, as losses in the Dow Jones Consumer Goods, Dow Jones Basic Materials and Dow Jones Health Care sectors led shares lower. At the close in NYSE,

The S&P 500 financial index rallied, with banks helping lift the Dow to its highest ever. Read more at straitstimes.com.

Most indexes, like the S&P 500 and Nasdaq Composite, assign a higher weighting to the largest companies by market cap. For example, Apple has roughly 11 times the market cap of Coca-Cola, so it has a much higher weighting in the S&P 500. But in the Dow, Apple is the 12th highest-weighted company by market cap because the index is price-weighted.

The swap reflects their reversal of fortunes within the tech industry and would have been unthinkable a few years ago.

Chip giant Nvidia will join the Dow Jones Industrial Average, the iconic Wall Street index announced Friday, underscoring the importance of artificial intelligence in the US economy.

When the Dow Jones was officially incepted on May 26, 1896, it was comprised of a dozen companies, most of which were tied to the industrial sector. Today, it contains an assortment of 30 historically profitable, time-tested, industry-leading businesses.

US markets had a mixed start to the week as the Dow Jones continued to surge higher, while the S&P 500 and the Nasdaq managed to close just above the flat line.The Dow Jones added another 300 points to close above the mark of 44,