Stocks tumbled Wednesday, harm by downbeat financial information and concern over the surge in new coronavirus instances. The U.S. recognized greater than 35,000 new instances of COVID-19 on Tuesday, the very best single-day complete since late April and the third-highest complete of your entire pandemic. With new instances rising in additional than 20 states, traders are coming to grips with the chance that components of the U.S. would possibly want to return beneath lockdown. In gloomy financial information, the Worldwide Financial Fund slashed its 2020 world output forecast to -4.9% from -3%. The Dow fell 2.7% to shut at 25,445.Wednesday’s washout does not imply the tip is nigh for the present uptrend. Tech stocks, the celebs of 2020, held up comparatively effectively Wednesday, with Intel (-1.4%) and Apple (-1.8%) serving to to mitigate the Dow’s loss. Certainly, it is affordable to imagine that tech stocks, starting from well-known names to under-the-radar companies, will proceed to guide the market greater in a post-pandemic world. Between momentum and fundamentals, the tech sector stays the perfect wager for market management, a indisputable fact that’s not misplaced on the “good cash.” Amongst hedge funds’ favourite stocks, tech claims 4 of the 5 prime spots. Take a look in any respect 25 of hedge funds’ favourite blue-chip stocks.