No wonder, the S&P 500 index recovered quickly as the FAANG stocks (Facebook, Amazon, Apple, Netflix and Google) outperformed and pulled the overall index higher due to their weightage. Did these businesses do well only due to lockdown or perhaps there was some fundamental shift in the way businesses will operate post-Covid? Many products listed on local e-commerce platforms are not sourced locally, which means there is little government can do to protect local businesses by levying heavy duties and tariffs. The clock is ticking for local businesses to conduct more research, improve their products and increase the yield. At the end, the digital tsunami is coming our way and standing at shore and burying our heads in the sand does not make it go away.

Source: The Express Tribune October 26, 2020 03:11 UTC