Nasdaq · October 10, 2000

The autumn of a warning a day

-3.43%

single-day change vs previous close

Part of a longer stretch

Nine months down without a rest

early in it · 2000-07-17 → 2001-04-04, -61.66% over the whole period

What happened that day?

10 October 2000 — the Nasdaq fell 3.43% to close at 3,240.54. No single cause can be pinned to the day
That autumn a technology company issued a warning almost every day. It was the stream, not any one of them, that took the price down
The warnings mostly said the same thing: orders were not coming in as expected
The reason was funding. Once the new internet companies could no longer raise money that spring, the revenue of the firms selling them equipment went first
Fighting in the Middle East was escalating at the same time, and oil rose with it
From mid-July to 2 January 2001 the index fell 46.39% over this episode
In a bursting bubble there are many days that look like the bottom. The real one came in October 2002

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 put together from the public record; where a specific source was consulted it is listed above.