Coronavirus: Apple market value tops $2trn for the first time

Apple has seen its market value hit $2trn for the first time as shares in US tech companies enjoy a surge in popularity amid the coronavirus crisis.

The iPhone maker's stock reached the milestone, topping $468 per share, during early trading on Wall Street following a leap of almost 60% in the value of its shares during the year to date.Market experts have credited a wider surge in tech firm shares this year on resilience in the face of COVID-19 chaos for the global economy.

Demand has also been driven by the flood of cheap money created by the US central bank to support the economy as it recovers from its largest slump since the Great Depression.A global catastrophe for stock markets worldwide in February and March was followed by the tech-focused Nasdaq hitting record levels in June.

The broad-based S&P 500, America's main stock market, struck new highs on Tuesday - in sharp contrast to London's FTSE 100 which remains almost 20% below its peak this year because its constituent companies are more exposed to the crisis.

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