OPINION: Eight months into 2020, we’ve seen extraordinary share market moves. The world’s largest market (the US) was down a third in March/April, then rocketed up by 51 per cent, reaching new highs by August. While unprecedented, this collapse and recovery is just part of the story.
The deeper insight is the wide dispersion of returns between sectors. Tech stocks are up 24 per cent this year – the likes of Amazon, Alphabet (Google’s parent) and Microsoft – have driven the market.
Healthcare, consumer goods and telecoms are also up – yet financial services, utilities, property and industrials are down, some sharply.
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