Nasdaq · July 17, 2000
The summer that still believed
+35.08%
trough back to the old high
37 trading days · 2000-05-23 → 2000-07-17
What happened that day?
- From the low on 23 May 2000 to the high on 17 July, the Nasdaq rose 35.08% over 37 trading days
- It recovered more than half of the spring's fall. The market in this period believed the spring had been a passing correction
- It mattered that the Fed left rates alone in June. It was read as the tightening coming to an end
- Results were not yet bad either. Second-quarter revenue at technology firms was still growing
- This high is the second peak that would go unbeaten for fifteen years
- The bounce ended in late July as companies began lowering their forecasts
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.