(RepublicanNews.org) – The US economy took a serious hit during the COVID-19 pandemic and is still trying to recover fully. With supply chain disruptions and inflation gripping America, investors are bracing for the worst.
Not all is bad on Wall Street. For the second day in a row, healthcare companies led the way for gains in the S&P 500 Index. Meanwhile, NASDAQ experienced a lag as Tech companies flatlined. In early October, the S&P 500 dropped 6% as investors expressed concern over several issues such as higher wages, supply chain issues and profit margin pressure.
— FinancialXpress (@FinancialXpress) October 20, 2021
Despite NASDAQ or the S&P 500 experiencing new 52-week record highs, with the S&P 500 not having any new lows, investors still worry about the economy’s future as the US continues to struggle with supply and demand.
Healthcare companies Anthem and Abbott Laboratories helped the US stock market climb higher on October 20. Still, it wasn’t all sunshine and rainbows for Wall Street as tech companies experienced losses. The biggest issue for the tech industry is a global computer chip shortage.
Other companies are attempting to stay ahead despite supply shortfalls and other supply chain issues, such as the lack of dockworkers and truck drivers to distribute products. So, investors are justified in their concerns moving into the future, as the economy is still struggling to make a full recovery.
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