Nasdaq · September 19, 2000
A bounce in the month the warnings started
+3.73%
single-day change vs previous close
Part of a longer stretch
Nine months down without a rest
early in it · 2000-07-17 → 2001-04-04, -61.66% over the whole period
What happened that day?
- 19 September 2000 — the Nasdaq rose 3.73%. No single cause for that one day could be pinned down
- This was the month the technology earnings warnings started in earnest. April's crash had been about price; now it was about profit
- The steeper the decline, the more often big up-days appear inside it. This was one
- Reading a day like this as the start of a recovery is usually wrong. The direction had not changed; the speed had paused
- Oil was sharply higher that month, and a weaker euro was cutting American companies' overseas earnings
- From the mid-July high to the low in early January the index fell 46.39%
- And that was not the end. The Nasdaq's final low came in October 2002
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is put together from the public record; where a specific source was consulted it is listed above.