Nasdaq · September 3, 2024
One stock pulled the index down
-3.26%
single-day change vs previous close
What happened that day?
- On 3 September 2024 the Nasdaq fell 3.26%
- The leading AI chip stock lost more market value in a single day than any company ever had
- When one company's weight in an index gets large enough, its day becomes the index's day. This was one of those
- US factory data that morning was also weak, read as a sign the economy was cooling
- The market was still jumpy, having only just recovered from the yen unwind shock in early August
- September is also known as a seasonally weak month
- In this stretch the index was 13.15% 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.