Dow Jones Today: Why is Dow down today as the US stock market paused after record highs?

Market Overview - The U.S. stock market experienced a cooling period following a strong pre-Christmas rally, with the Dow Jones Industrial Average falling 96.62 points, or 0.20%, to 48,634.54 [1][15] - The S&P 500 slipped 0.07% to 6,927.29, while the Nasdaq Composite remained nearly flat, shedding just 0.21 points to hold at 23,613.10 [1][15] - Traders reduced rate-cut bets, pricing in under 15% odds for a Federal Reserve move next month, indicating a "higher for longer" monetary environment [2][4][15] Technology Sector - Nvidia (NVDA) gained 1.29% to reach $191.04, driven by a strategic clarification regarding its relationship with AI chip startup Groq, confirming a non-exclusive licensing deal for Groq's Language Processing Unit technology [7][8][15] - The integration of Groq's leadership into Nvidia's ranks aims to scale new architecture, allowing Nvidia to diversify its hardware portfolio and maintain dominance over competitors like Google [8][15] Automotive Industry - Legacy automakers such as Ford, General Motors, and Stellantis are recalibrating strategies due to a significant decline in electric vehicle (EV) demand, exacerbated by the expiration of federal EV tax credits and changes in fuel economy standards [9][10][15] - Tesla (TSLA) fell 1.55% to $477.86, reflecting the broader cooling of the EV sector, while concerns arise that reduced EV investments may lead to a competitive disadvantage if global demand for sustainable transport rebounds [10][15] Retail Sector - Target (TGT) rose 1.70% to $98.17 following reports of activist investor Toms Capital Investment Management building a significant stake in the company, with hopes of reversing Target's 26% decline in 2025 [11][15] Commodities Market - Gold futures surged to a new lifetime high, briefly touching $4,561.40 per ounce, representing a 70% annual gain, the largest since 1979 [12][15] - Silver prices breached the $75 per ounce milestone for the first time, with March delivery futures jumping 4% to reach $75.49 per ounce, marking a 158% year-to-date increase [13][15] - The rally in precious metals is attributed to geopolitical tensions and a weakening U.S. dollar, leading investors to seek safe-haven assets [14][15]