The US’s S&P 500 index has risen more than 20 per cent for the second year in a row, as investor excitement about artificial intelligence fuels strong gains in megacap technology stocks.
Despite a sell-off in December, the basket of blue-chip stocks has ended 2024 up 23.3 per cent, following a 24.2 per cent gain the previous year, marking its best two-year run of performance this century. The index has now made annual gains of more than 20 per cent four times in the past six years.
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