The Dow rallies to a record high but the U.S. tech rotation to cyclicals continues with the Nasdaq suffering a fall into correction territory. However, Ark Invest founder Cathie Wood tells CNBC she is optimistic the bull market is broadening and has space to run. Following the Senate’s approval of President Biden’s $1.9tn stimulus bill, so-called ‘meme stocks’ are rallying on expectations that some retail investors may pump their stimulus cheques to continue fuelling the market short squeeze. In Europe, troubled lender Greensill Capital has filed for bankruptcy, citing “severe financial distress”. The collapse of Greensill means that up to 5,000 steel jobs at Liberty UK could now be at risk.

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