Nasdaq · June 8, 2020
The Nasdaq's COVID rebound
+44.66%
trough back to the old high
53 trading days · 2020-03-23 → 2020-06-08
this undid the slide that began 2020-02-19
What happened that day?
- From the 23 March 2020 low to 8 June the Nasdaq rose 44.66% — 53 trading days
- It undid a crash that had taken nearly a third off in 23 trading days
- It was much faster than the other indexes, because the businesses lockdowns actually helped were concentrated here
- Video calls, online shopping, games and cloud services — the more time people spent at home, the more they were used
- The Fed's zero rate also favoured growth stocks: the lower the rate, the more distant profits are worth now
- The old high was back on 8 June, and the index kept climbing from there into late 2021
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.