Coronavirus upends traditional relationships for aggressive, defensive stocks

The new coronavirus has upended expectations for the riskiness of individual stocks, a shift that has stoked major indexes recovery but that many investors now warn leaves the market vulnerable to reversals.
Shares of many technology and pharmaceutical companies have looked like safety plays during the pandemic. Other stocks that have long been considered defensive bets during a downturn, such as those of real-estate and utility companies, have suffered steep losses.
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