Nasdaq Hits New Record Above 10,000 Points

The US tech-focused index breaks through 10,000 points, up 10% this year, defying the economic dislocation caused by the Covid-19 crisis

James Gard 11 June, 2020 | 3:20PM

Nasdaq

US technology index the Nasdaq hit a new record on Wednesday, a move which underlines how technology stocks have driven the global equity recovery despite the economic fallout from coronavirus.

The Nasdaq closed 66 points higher at 10,020, the first time it has closed above that level. Year to date the tech index is up 10% and has erased all the losses seen during the March sell-off, when the index plummeted to a low of 6,860 points on March 23. Since that date the index is up 46%. In contrast, the Dow Jones (the main US stock market) is down nearly 10% this year.

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James Gard  is content editor for Morningstar.co.uk

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