LONDON (Reuters) – The technology and healthcare sectors have tightened their grip on global stock markets since the coronavirus shock knocked world shares from February’s record highs.
FILE PHOTO: A 3D-printed Facebook logo is seen in front of displayed stock graph in this illustration photo, March 20, 2018. REUTERS/Dado Ruvic
While banks, airlines and oil majors have been dumped by investors and the value of their shares has plummeted, sectors including the likes of pharma giant Roche (ROG.S) and the U.S. tech heavyweights now account for 42.8% of world stocks – more than twice that of energy and financial shares.
Healthcare and technology stocks globally have been resilient to the ongoing virus shock, with investors pumping $4.9 billion into those sectors in the last week, according to BofA Research.
Facebook (FB.O), Apple (AAPL.O), Amazon (AMZN.O), Alphabet (GOOGL.O) and Microsoft (MSFT.O) weigh a whopping 8.7% of global equity markets.
1/HEALTHY TECH IS IMMUNE TO SHOCK …
Source Reuters Tech News
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