The unexpected coronavirus economy: How coffee, lumber and hydrogen defied market odds

SourceArabian Business
SectorFinancial Markets
CountryUnited Arab Emirates

As the coronavirus pandemic continues to rage across the world with no signs of slowing, the global economy is reeling from lockdowns, restrictions, and unprecedented levels of unemployment. However, despite the economic woes of most of the world’s biggest economies, certain markets remain bullish, seemingly immune to the turmoil around them. Without a doubt, the NASDAQ 100 was the best performing equity index among the advanced economies. Adversely, the FTSE 100 has been one of the worst performing indexes, as even the UK’s ‘steady Eddy’ investment products performed well below expectations despite investors searching for safe havens in these uncertain times. Big tech companies like Apple, Amazon, and electric automaker Tesla seemed to be untouchable, with the most significant growth in market value ever recorded. It was an obvious bet that in more...