BUSINESS BRIEFS

Nasdaq sets record as tech stocks lead indexes higher

Technology companies led a broad rally Tuesday on Wall Street that drove the Dow Jones Industrial Average more than 400 points higher and gave the S&P 500 its best day in more than five months.

The S&P 500 index rose 48.67 points, or 1.5%, to 3,297.59. It was the index’s biggest single-day gain since early August. The Dow climbed 407.82 points, or 1.4%, to 28,807.63.

The Nasdaq gained 194.57 points, or 2.1%, to 9,467.97, a record high.

The Justice Department official leading the investigation of big tech companies’ market dominance is stepping aside from the department’s Google probe because of his previous lobbying work for Google.

Assistant Attorney General Makan Delrahim is recusing himself from the investigation into Google, a person familiar with the matter said Tuesday. The person wasn’t authorized to discuss the investigation and spoke to The Associated Press on condition of anonymity.

Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, Alden Global Capital.

The Chicago-based company, which owns the Chicago Tribune, New York Daily News, Baltimore Sun and other major daily papers, said in a statement Monday that CEO Timothy Knight and non-executive chairman David Dreier are leaving their positions. The company is promoting CFO Terry Jimenez to the top job effective Jan. 31.

Irish regulators have launched separate inquiries into Google and dating app Tinder over how they process user data, in a new round of regulatory scrutiny aimed at tech companies.

Ireland’s Data Protection Commission said Tuesday that it decided to look into how Google handles location data after a number of consumer groups across the European Union filed complaints.