NEW YORK: The heavyweight technology and growth stocks that drove Wall Street higher in recent years are again fueling a surge that has taken the Nasdaq from a brutal selloff to an intraday record high in just 11 weeks, as investors look beyond the economic upheaval caused by the coronavirus.
NEW YORK: The heavyweight technology and growth stocks that drove Wall Street higher in recent years are again fueling a surge that has taken the Nasdaq from a brutal selloff to an intraday record high in just 11 weeks, as investors look beyond the economic upheaval caused by the coronavirus.
The Nasdaq's 43% rise since late March puts the tech-heavy index far ahead of the broader S&P 500, highlighting investors' willingness to bet that tech and communication companies will emerge stronger from the pandemic.
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