The second quarter of 2020 can be attributed to a sturdy market rally despite coronavirus-led lockdowns in various parts of the globe. Since the market hit lows on Mar 23, the S&P 500 gained roughly 40% till early June, marking the best 50-day rally in history.The unprecedented stimulus measures by global central banks and governments pulled the ailing global markets very soon from nadir.
The S&P 500 Index, the Dow Jones and the Nasdaq gained about 18.4%, 15.6% and 30.1%, respectively, in the past three months (as of Jun 26, 2020). Let’s take a look at the key ETF events of Q2.
Reopening of Economies
In the second quarter, all 50 states of the United States reopened to some extent after lockdown. Not just the United States, several global economies also started to open from May-end. Rising hopes of a vaccine and some upbeat economic indicators added to the optimism.