Nasdaq · April 12, 2000
The middle of the week that broke
-7.06%
single-day change vs previous close
Part of a longer stretch
The eleven weeks when the bubble first broke
midway through · 2000-03-10 → 2000-05-23, -37.32% over the whole period
What happened that day?
- The Nasdaq fell 7.06% on the day, in the middle of the worst week of the dot-com collapse
- Until then only internet firms had fallen while chipmakers and telecom equipment held up. That distinction disappeared this week
- Companies with genuinely bad results and companies still doing fine were sold indiscriminately
- Reasons stop mattering in a phase like this. Anyone who needs cash sells whatever can be sold
- Two days later an inflation reading came in above expectations and Friday brought another heavy fall
- The index went from above five thousand to around three thousand four hundred in that week
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.