Following the ravages of the COVID 19 pandemic, the NASDAQ composite index made the fastest recovery globally.
According to data presented by tradingplatforms.com, the index rebounded by 65% on 14th November 2021 from its January 2020 values. The figure contrasted with most leading stock markets that appreciated by about 20 to 40%.
The pandemic resulted in global stock market indices plummeting from March 2020. Each index experienced a unique fall. Similarly, they recovered differently following market corrections.
European exchanges and traditional stocks fell by 40% on 15th March 2020. However, NASDAQ and Asian markets performed better. These lost between 20 and 25% of their values. Again, they posted quick recoveries from COVID-19 effects.
What’s behind NASDAQ’s recovery?
So what made the NASDAQ post such a massive upswing? Analysts believe that the turnaround was due to its listing. The index hosts many giant tech firms whose stocks thrived during that period.
Most NASDAQ listings are firms with an established online presence. As such, they experienced booms from e-commerce activity. That’s a notion that Edith Reads from tradingplatform.com affirms.
she holds, “A shift to online commerce saw NASDAQ listed giants profit significantly. These include Netflix, Paypal, and Amazon that already have a strong online presence. Consequently, the index made huge gains too. Thus it recorded the fastest recovery compared to other leading global stock markets.”
Oil sector woes
Things were not so rosy for the energy sector, though. Oil firms’ shares tumbled on the back of COVID-19 containment measures. For instance, companies allowed their staff to work remotely. Also, travel restrictions dealt the tourism industry a massive blow.
The full story and statistics can be found here: https://
