Dow Jones reaches record high amid oil and chip decline

The Dow Jones Industrial Average reached a new record level as investors shifted from chip manufacturer stocks to cyclical stocks, following a decline in oil prices. The index rose by 330.61 points to close at its all-time high, while the Standard & Poor's 500 and Nasdaq declined due to a drop in chip stocks. Oil prices continued to decline for the second session, with Brent and WTI futures falling below $80 and $75 respectively, supporting the shares of industrial companies and the U.S. Federal Reserve.

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