The first half of 2020 has been majorly dominated by the coronavirus pandemic. The tech-heavy Nasdaq Composite index, however, showed some resilience to the virus attack and has managed to gain around 10% so far. However, other major stock market indices like Dow Jones Industrial Average and the S&P 500 index have lost around 10.3% and 6.6%, respectively, in the same period.
Even since Mar 23, when the coronavirus worries had peaked, ravaging the stock market, the Nasdaq has recouped losses and gained more than 43% against Dow Jones Industrial Average index’s recovery of around 37% and the broader S&P 500 index’s 36% rise. Going by Dow Jones Market Data, for the second time since its foundation in 1971, Nasdaq has been able to outperform peers in the middle of the year (per a MarketWatch article). The same phenomenon was last observed in 1977.
It is being widely believed that