Economics
Debt Shakeout to Make Biggest Tech Firms, Retailers Even Bigger
- Tech stocks seen as winners from post Covid-19 shakeout
- More concentration could be good for stocks, bad for economy
Photographer: Patrick T. Fallon/Bloomberg
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The coronavirus recession is generating winners and losers in corporate America, with cash-rich behemoths set to get bigger while debt-heavy companies and the economy lag.
Slammed by the now-ending economic and social lockdown, a growing number of enterprises are filing for bankruptcy or closing up shop because they can’t pay the bills. Others are downsizing even as they pile up more I.O.U.s, adding to already record U.S. corporate debt.