The Dow powered to a fresh record close Thursday on continued momentum from President-elect Donald Trump's election win, but the Nasdaq tumbled on weakness in Amazon, Apple and others.

Analysts said the tech pullback was partly due to a rotation to other sectors and partly to worries the industry could suffer under Trump policy changes. At the closing bell, the Dow Jones Industrial Average was up 1.2 percent to 18,808.49, while the Nasdaq fell 0.8 percent to 5,208.80.