Nasdaq · November 27, 1998
The Nasdaq's snap-back after LTCM
+42.09%
trough back to the old high
35 trading days · 1998-10-08 → 1998-11-27
this undid the slide that began 1998-07-20
What happened that day?
- From the 8 October 1998 low to 27 November the Nasdaq rose 42.09% — 35 trading days
- It undid the three-month decline caused by Russia's default and LTCM's collapse
- The Fed cut three times in two months and steadied the market
- The crisis had been an accident inside the financial markets while the real economy was fine, so the recovery was quick
- Internet listings were taking off at the same time and money poured into the Nasdaq
- The old high was back on 27 November, and the move ran straight into the big 1999 advance
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.