Gold Sinks 5% On Worst Day In 5 Years, Dow Jones Hits Record Highs: What’s Moving Markets Tuesday?
Gold prices suffered a sharp correction on Tuesday as investors locked in profits following this year’s explosive rally, while optimism across earnings kept industrial stocks powering higher and pushed the Dow Jones to fresh record highs.
The blue-chip index climbed 0.7% to 47,050 points, marking a new all-time high, while the S&P 500 and Nasdaq 100 hovered near record territory.
• GDX is among today’s weakest performers. Review the technical setup here.
General Motors Co. (NYSE:GM) surged more than 15% — leading the S&P 500 — after the Michigan-based automaker topped earnings expectations and raised its 2025 profit outlook to $12–$13 billion, buoyed by robust demand for pickups and SUVs. The stock is on track for its strongest session since March 2020.
In contrast, gold miners tumbled as bullion prices slumped more than 5% to $4,100 per ounce — their steepest one-day drop since August 2020.
Newmont Corp. (NYSE:NEM) plunged nearly 10%, while the VanEck …
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