Nasdaq · September 7, 1978
The Nasdaq's climb back from the oil shock
+149.85%
trough back to the old high
992 trading days · 1974-10-03 → 1978-09-07
this undid the slide that began 1973-01-11
What happened that day?
- From the 3 October 1974 low to 7 September 1978 the Nasdaq rose 149.85% — 992 trading days
- It undid a decline that had taken nearly three-fifths off
- A deep hole needs a big climb just to break even, which is why it took so long
- Inflation eased, the economy recovered, and smaller companies' earnings came back first
- This is also when the semiconductor and personal computer industries began to take shape, bringing new growth names onto the Nasdaq
- The old high returned on 7 September 1978
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.