Nasdaq · November 10, 2022
The CPI day on the Nasdaq
+7.35%
single-day change vs previous close
Part of a longer stretch
The 2021–22 tech bear market
near the end of it · 2021-11-19 → 2022-12-28, -36.40% over the whole period
What happened that day?
- On 10 November 2022 the Nasdaq rose 7.35% in a single day
- That day's October inflation reading came in below expectations
- Inflation breaking means the Fed can stop raising rates
- The Nasdaq rose more than the S&P 500 because rates had pressed it down harder
- The further out a company's profits sit, the more rates move its value — that is what the Nasdaq is made of
- This was near the floor of the tech bear market. The Nasdaq's low was 28 December and the old high returned in February 2024
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.