But that rotation pulled money out of tech stocks dragging down the NASDAQ and S and P 500.

Investors bet on stocks that stand to benefit the most from an economic rebound such as blue chips Disney and Goldman Sachs.

This comes as a $1.9 trillion covid 19 relief bill awaits a final congressional vote after the Senate passed it over the weekend.

But the prospects of more government spending and faster economic growth are also stoking fears of a spike in inflation that drove the benchmark 10 year Treasury yield to near one year highs Monday.

Tech stocks are particularly sensitive to rising yields, which sent big names like Apple and Alphabet lower.

The NASDAQ closed down nearly 2.5% and the S and P by half percent, but the Dow gained 1%.

Phoenix Financial Services chief market analyst Wayne Kaufman.

I think that it's good that money is not leaving the market.

This has very obviously been sector rotation money, not leaving the market.

Shares of Walt Disney jumped 6%.

Disneyland and other theme parks stadiums and outdoor entertainment venues could reopen as early as April under new rules set by California health officials.

G E shares rose 4%.

Its aircraft leasing unit is in talks with Irish rival Air Cap over a possible deal that would create an industry titan.