DOW JUMPS AMID BROADER MARKET RALLY IN COUNTDOWN TO INFLATION DATA

The blue-chip Dow hit a one-month high in a broad-based rally on Monday, as investors rotated out of AI-linked stocks, while focus turned to a key inflation print later in the week to sharpen bets around interest rate cuts this year. Nvidia dropped 4.9%, sliding for the third day, with market participants citing profit taking in the semiconductor bellwether and other AI stocks following its meteoric rise to the world's most valuable company last week.

Other chip stocks including U.S. shares of Taiwan Semiconductor Manufacturing , Broadcom, Marvell Technology and Qualcomm dropped 2%-5%, dragging the chip stocks index down 1.7%.

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