U.S. equity markets were mixed Tuesday as the Nasdaq crossed the 10,000 level for the first time and investors took profits in some of the high-flying companies that netted a windfall on optimism surrounding the reopening of the U.S. economy.

The tech-heavy Nasdaq reversed an early loss of 0.62 percent, on its way to briefly eclipsing the 10,000 level for the first time. The Dow Jones Industrial Average fell as many as 421 points, or 1.53 percent, before paring its losses while the S&P 500 dropped 1.22 percent.

Looking at stocks, travel-related companies saw profit-taking after scoring big gains in recent sessions. Dow component Boeing was lower after rallying 50 percent over the previous four sessions while American Airlines saw profit-taking following its 81 percent gain since Wednesday.

Hertz Global Holdings, which last month filed for Chapter 11 bankruptcy, was under pressure after shares soared 574 percent over the previous three sessions.

Embattled oil and natural gas producer Chesapeake Energy is preparing for a bankruptcy filing, according to a Bloomberg report, citing people with knowledge of the matter.

Meanwhile, energy giants Exxon Mobil and Chevron slid after Saudi Arabia announced its extra voluntary production cut would cease at the end of June. West Texas Intermediate crude oil was little changed near $38.20 a barrel. Read more at FOX Business