Markets 2021: Stocks soar, IPOs explode, crypto goes wild

Associated Press

Wall Street delivered another strong year in 2021, as a spike in consumer demand fueled by the reopening of the global economy pumped up corporate profits. Investors faced plenty of challenges, however, most notably a resurgence of inflation and the persistent coronavirus pandemic. Retail investors made their presence felt by boosting GameStop and other so-called meme stocks to sky-high levels. They also flocked to Bitcoin and other cryptocurrencies. A record number of companies went public, trying to take advantage of the soaring stock market. China cracked down on big technology companies, knocking more than $1 trillion off their market value. In social media, Facebook changed its name while Twitter changed its leadership.