Big Tech enthusiasm getting stronger

© Provided by The Manila Times. Agence France-Presse.

NEW YORK CITY: Tech stocks were going strong even before coronavirus disease 2019 (Covid-19), but behavioral shifts during the pandemic have lifted the sector further into the stratosphere, leaving the broader stock market far behind.

The tech-dominated Nasdaq Composite Index has closed at records in six of the last seven sessions, reflecting investors’ confidence that tech companies benefit from the so-called “stay-at-home” trade even as the market has pummeled airlines, hotels and brick-and-mortar retailers. […]

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