Individual investors are pouring money into popular technology stocks, contributing to a booming rally that is leading major indices higher even as economic uncertainty related to the coronavirus lingers.

The faith investors have in fast-growing tech firms and historic stimulus measures by the world’s central banks and governments helps explain how stocks have shaken off the worst US economic contraction and civil unrest in decades. Many internet stocks favoured by individuals are also popular for hedge funds and institutional investors seeking assets with attractive growth prospects.