US stocks rose to their 36th record high of the year on Tuesday afternoon, but portfolio manager Jacob Sonnenberg was in no mood to celebrate.
Propelled by a handful of huge Silicon Valley technology companies tied to the artificial intelligence boom, the S&P 500 ended the session in the green. But this was despite the fact that 397 stocks lost ground.
In 35 years, the blue-chip index has never posted a gain on a day when so many of its constituents have sold off, according to the Bespoke Investment Group.
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