Big-Tech Milestone: Nasdaq-100 ETF Tops $100 Billion in Value
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A monitor displays Amazon.com Inc. stock information at the Nasdaq MarketSite in New York.
Photographer: Jeenah Moon/BloombergThis article is for subscribers only.
Thirty million job losses, shrinking consumer spending and a projected 16% unemployment rate. Tech stocks turn higher for the year and an ETF that tracks the biggest among them has swelled to a $100 billion market value.
None of the economic damage wrought by the coronavirus has deterred investors from piling into the companies that stand out for their strong balance sheets and ability to churn out profits in the stay-at-home world. Microsoft, Apple and Amazon are each worth more than $1 trillion.