Nasdaq · March 23, 2020
The COVID crash on the Nasdaq
-30.12%
peak-to-trough, the whole slide
23 trading days · 2020-02-19 → 2020-03-23
back to the old high on 2020-06-08
What happened that day?
- From the 19 February 2020 peak to the 23 March low the Nasdaq fell 30.12% — 23 trading days
- Lockdowns stopped the economy and every index fell together. The Nasdaq was no exception
- What differed was the speed back. The old high was already regained on 8 June — two and a half months
- The businesses that lockdowns actually helped were concentrated in the Nasdaq: video calls, online shopping, cloud services
- The Fed cutting to zero also favoured growth stocks. The lower the rate, the more distant future profits are worth today
- The gap opened here ran through 2021, then was handed back sharply in 2022 when rates started rising
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.