Nasdaq · June 17, 2002
Two days up, then straight back down
+3.23%
single-day change vs previous close
Part of a longer stretch
Nine months when the books could not be trusted
midway through · 2002-01-04 → 2002-10-09, -45.90% over the whole period
What happened that day?
- June 17, 2002 — the Nasdaq rose 3.23% to 1,553.29. No single cause for the day could be pinned down
- It capped two straight gains and was the highest close since June 6
- Accounting distrust had been pressing on prices all spring. If the numbers cannot be trusted, nothing can be called cheap
- Days like this come often from a beaten-down level: not a change of direction, just wider swings
- Sure enough, the next four sessions fell
- From March 8 to October 9 the episode ran -42.26%
- The bottom came that October
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.