A tale of two markets Thursday. Tech giants Amazon, Microsoft and Apple powered the Nasdaq to another record closing high. But investors worried about another round of business shutdowns as COVID-19 inactions in the U.S. set a single-day global record, and that sent the Dow and S&P 500 down.

The Dow lost more than 1-and-a-third percent. The S&P 500 fell roughly six-tenths percent, while the Nasdaq gained a half percent.

National Securities chief market strategist, Art Hogan:

"There are days like today where we have the bears taking charge saying hey listen, 'We don't know how bad this wave will get that's hitting us with the coronavirus.' So for the time being, the concern is how mays states are actually going too say, 'We need you to go back inside. You can't go to restaurants. We're going to slow down the economic recovery in our state.' Then how broad does this get?"

The coronavirus disrupted business at Walgreens Boots Alliance's Boots division in the UK. Shares of the drug store chain dropped more than 8% after it swung to a quarterly loss from a profit a year earlier.

But there's hope for bulls. The S&P 500 formed a technical pattern called the "golden cross" which signals an uptrend ahead for stocks.