The S&P 500 closed at a record high on Tuesday, wiping out losses from the coronavirus-induced sell-off and returning the market to pre-pandemic levels, CNBC's Nate Rattner writes. A quarter of the index, 126 stocks in total, recorded declines of 25 percent or more compared to the February 19 starting point. In consumer staples, health care, and information technology, more than 50 percent of stocks posted gains between February 19 and August 18. But more than 40 percent of stocks in the sector were down, including Dentsply Sirona (-26 percent), Universal Health Services (-19 percent), and Cigna (-18 percent). The one area in which stocks have shown alignment is throughout the market’s return from the S&P 500′s March 23 low point, when the index grew by 52 percent en route to the new record high.

Source: The Standard August 23, 2020 09:45 UTC