Tech stocks have been a winning bet, but investors worry it will fade

NEW YORK: A bet on tech companies has been a solid one in the aftermath of the coronavirus-induced market crash, but some investors are questioning whether those stocks can maintain their momentum if jobs do not recover soon.

So far, the Nasdaq Composite has proven more resilient than other broad market benchmarks, in part because it has little exposure to sectors such as energy, retail and travel companies whose shares have cratered 50per cent or more since the start of the year. The S&P is around 8per cent below its own all-time closing high, hit on Feb. 19.

"We really need to make sure that consumers are okay and feeling good within their economic viability," Callinan said.

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