Despite the Corona crisis, the S&P reaches 500 a historical record, thus the New York Times. This increase is mainly caused by the Tech Funds.
“Technology stocks have played a big role in those gains. Companies such as apple, Alphabet and Microsoft have attracted investors despite the deep downturn in the United States, with buyers betting that those companies are aimed to thrive in a stay-at-home economy and emerge from the crisis in an even stronger competitive position.”
Due to the crisis, it has never been so clear that in these uncertain times, technology is crucial to keep our economy going. Also read our blog: Impact of COVID-19 on the merger and acquisition market
In addition, investors are always looking beyond today, an upcoming vaccine, the lower death rates than expected contribute to this development.