In the United States, the best-performing stock market sectors year-to-date are technology and consumer discretionary.

One of the most perplexing phenomena last year has been the performance of stock markets. Unperturbed by more than 60 million confirmed cases of Covid-19 and 1.5 million deaths, share prices continued their upward trajectory.

As global economic activity contracted by more than 4 per cent and hundreds of millions of jobs were lost, stock market indexes reached new all-time highs.

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