Growth stocks are back in business after the market meltdown earlier this month shows no sign of serious deterioration, according to experts.
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Stock market ETFs continue to be impacted as investors appear to be spooked by changing monetary policy and limited boost from White House economic incentives.
The long-awaited pullback following soaring equity markets may have taken its first step this week and low volatility ETFs have been impacted. Investors are concerned about inflation and rising interest rates, which have pushed up bond yields while stocks sink.
The SPDR S&P 500 fund (SPY), from State Street Global Advisors, has reached the milestone 25 years after it first started trading. Its underlying index is the bellwether for the US economy, and has a high concentration in sectors like technology and financials.
Momentum from 2017 has continued so far this year, with the MSCI World Index rising in most of the trading sessions since the 1 January.
ETF assets increased by 34.3% to $3.42 trillion at the end of December from $2.55 trillion at the end of 2016 – the fastest growth in the industry since 2009.