Dow falls, but tech stays green | Bankrupt Hertz halts stock sale | Grantham says this is a bubble

The Dow ended its winning ways, but the Nasdaq stayed strong.

VIEW IN BROWSER | SUBSCRIBE WED, JUN 17, 2020 EVENING BRIEF AS OF WED, JUN 17, 2020 • 04:32 ET DJIA 26119.61 -0.65% -170.37 S&P 500 3113.49 -0.36% -11.25 NASDAQ 9910.53 +0.15% +14.66   Most Active DOW NAME LAST CHG %CHG BA 192.54 -5.23 -2.64% AAPL 351.59 -0.49 -0.14% PFE 33.56 +0.16 +0.48% S&P 500 NAME LAST CHG %CHG GE 7.24 -0.23 -3.08% AAL 16.98 -0.05 -0.29% NCLH 19.20 -1.76 -8.40% NASDAQ NAME LAST CHG %CHG AAL 16.98 -0.05 -0.29% UAL 39.25 -0.96 -2.39% AMD 54.55 +0.09 +0.17% EDITOR'S NOTE Make it four in a row for the Nasdaq Composite.   The tech-heavy index posted its fourth consecutive gain Wednesday as shares of the major tech companies outperformed. Apple even hit a record high at one point.   But the stocks that stand to benefit the most from the economy reopening — airlines, cruise operators and retailers — were under pressure throughout the session, leading to volatile trading for the Dow Jones Industrial Average and S&P 500.   Ultimately, the broader market finished in the red.  Recently, an uptick in coronavirus cases around the country has raised concern about the economic restart. Last week, the S&P 500 posted its worst weekly decline since late March.   But Wall Street strategists remain confident that a sell-off similar to the one in March is unlikely given the Federal Reserve's support measures, along with the recent strong slate of economic data and the progress on potential coronavirus vaccines and treatments.   Fed Chairman Jerome Powell spoke to the House Financial Services Committee on Wednesday, stating that the central bank will "over time" move away from buying exchange-traded funds and move into purchasing corporate bonds. "It's a better tool for supporting liquidity and market functioning," Powell said.     Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Fred Imbert | CNBC Markets Reporter @foimbert TOP NEWS  Dow drops more than 100 points, snaps 3-day winning streak Hertz halts plan to sell $500 million in shares after SEC review Jeremy Grantham says this may be the 4th major market bubble of his career Biden leads Trump in six 2020 swing states, CNBC/Change Research poll finds DOJ takes aim at law that shields tech companies from lawsuits over material their users post Target raises minimum wage to $15 an hour months before its deadline Texas coronavirus hospitalizations hit new high, up 66% since Memorial Day JC Penney kicks off liquidation sales at 136 stores this week SEC chief warns people not to use penalty-free 401(k) withdrawals for risky investments Fintech app Robinhood is driving a retail trading renaissance during the stock market's wild ride     TOP VIDEO GM CEO Mary Barra on Covid-19 impact on carmakers, vehicle demand and more   CNBC PRO Options market implies that JPMorgan and other megabanks may slash dividends after Fed stress test   SPECIAL REPORTS How GoodRx built a $2.8 billion business by helping consumers find drug discounts Apple stock: History suggests another 40% rally is coming, trader says   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2020 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS