The Nasdaq Composite stock index is on the cusp of recouping all its losses for the year.

The index, which is powered by big tech companies such as Microsoft Corp., Apple Inc., Amazon.com Inc., Alphabet Inc. and Facebook Inc., was off as much as 24% year to date in late March during the coronavirus-driven market rout. It has rebounded sharply since then, cutting its losses for 2020 to just 0.6%.

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