Dow hits record 52,185.49 as WTI slides about 4% to $77 ahead of Warsh’s first Fed meeting outcome

WTI crude fell about 4% to around $77 a barrel, a two-month low, after a framework deal to reopen the Strait of Hormuz—an MOU due to be signed Friday in Switzerland—eased the war-risk premium, according to the Benzinga Pro platform. Brent traded near $80, dragging the Energy Select Sector SPDR Fund (NYSE:XLE) down roughly 0.7%. U.S. stocks were mixed as money rotated out of megacap tech, pushing the Dow to record highs while the Nasdaq 100 fell about 1.4%. Markets were also focused on Federal Reserve Chair Kevin Warsh’s first policy meeting, with the decision not yet announced.