Nasdaq · August 13, 1999
Confirmation that prices were still calm
+3.46%
single-day change vs previous close
What happened that day?
- On 13 August 1999 the Nasdaq rose 3.46%
- The market had spent the summer held down by the fear of rate rises
- Inflation readings around this time were calm. Prices were not rising even though the economy was strong
- That leaves the Fed less reason to move quickly
- People called this combination the new economy — the argument being that computers had raised productivity so prices could stay put
- No single trigger can be pinned to this day
- In this stretch the index was 13.07% below its peak
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 written from the sources listed above.