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S&P 500 Hits New Record High, Fully Wiping Out Its Coronavirus Losses
Summary: The S&P 500 rose to an all-time high on Tuesday, capping off its incredible recovery from the coronavirus-induced sell-off that knocked it off its previous record back in February, as reported by CNBC. Earlier this year, the S&P 500 tumbled more than 30% from its February record as the coronavirus pandemic sent profit expectations and economic activity ...
The S&P 500 rose to an all-time high on Tuesday, capping off its incredible recovery from the coronavirus-induced sell-off that knocked it off its previous record back in February, as reported by CNBC.
Earlier this year, the S&P 500 tumbled more than 30% from its February record as the coronavirus pandemic sent profit expectations and economic activity tanking. Since hitting a 52-week low on March 23, the S&P 500 has skyrocketed more than 54%.
The market’s rally back into record territory also came on the heels of unprecedented fiscal and monetary stimulus. Lawmakers, meanwhile, pushed through trillions of dollars worth in unemployment assistance and direct payments to Americans, among other benefits.
Despite the S&P 500′s run to a record, retailers Home Depot and Walmart capped the index’s gains by selling off despite stronger-than-forecast quarterly results.
By Amy Liu
Tags: Coronavirus,Record,S&P 500,stimulus
Link: S&P 500 Hits New Record High, Fully Wiping Out Its Coronavirus Losses [Copy]
