Nasdaq · October 31, 2007
Fifteen months that ran right up to the crisis
+41.51%
trough back to the old high
322 trading days · 2006-07-21 → 2007-10-31
What happened that day?
- From the low on 21 July 2006 to the high on 31 October 2007, the Nasdaq rose 41.51% over 322 trading days
- The starting point was the Fed stopping. Merely knowing that the price of money would not rise further was enough to send buyers back into risk
- The last four months of this run came after the financial crisis had already begun. Credit markets froze that summer and in August a European bank blocked withdrawals from its funds
- Shares still rose into late October, because the trouble was believed to be walled off inside home loans
- Technology looked especially safe. These were companies with no link to house prices, and the first smartphone that year gave them a new growth story
- 31 October is the Nasdaq's last high before the crisis. What follows is a halving that took 15 months
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.