Apple, Amazon, Microsoft accountedt for 53% of S&P 500 total gains in 2020 — Apple World Today

Similarly, Nasdaq fell from 9,700 points before the pandemic to about 5,300 points in March 2020. But it had recovered to 12,595 points by December 14, 2020. The Dow Jones Industrial Average (DJIA) also shed 8,000 points at the peak of the pandemic. By December 14, 2020 it had recovered to 30,199 points, higher than its pre-pandemic level of 29,000 points.

Like the S&P 500, the DJIA closed 2020 at a record high, gaining 7.25% on the year. For Nasdaq, 2020 was its best year since 2009 as it gained 43.6%.

The indices’ performance was attributed to big tech stocks that flourished in the pandemic as others languished. To illustrate, the top 10 stocks on the S&P 500 accounted for 27.4% of the index’s total market value.

Apple led the pack, gaining 82.3% on a total return basis. Amazon followed with a 72.6% increase. Microsoft was third with 42.5%. Together, the three accounted for 53% of the total returns that the index posted during the year.