Nasdaq erases 2020 losses as tech stocks shake off harrowing lockdowns
The gauge is up 30% in two months, propped up by online and automated businesses amid lockdowns
New York — As harrowing as the pandemic has been, with the outbreak putting millions of jobs at risk and threatening to spur the worst recession in nine decades, just as shocking has been the ability of technology stocks to shake it off.
You’d barely known anything was wrong in the world if your only guide was the Nasdaq Composite Index, which after its fourth straight advance on Thursday erased its year-to-date losses that at the depths of March swollen past 20%. Propped up by companies whose online and automated businesses have proved bulwarks amid a stay-at-home scourge, the gauge is up 30% in two months...
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