Nasdaq loses ground as tech weighs; banks lift S&P, Dow

The Nasdaq lost ground sharply on Thursday, dragged down by a slide in technology stocks, as investors poured money into sectors that may benefit from Donald Trump's victory in the U.S. election. The S&P 500 extended its loses to trade lower, while the Dow hit a record intraday high earlier in the session. Trump's proposed policies such as tax cuts, higher fiscal spending and simplifying regulation are likely to benefit sectors such as banks and industrials.