Nasdaq · December 24, 2018
The Q4 2018 selloff on the Nasdaq
-23.64%
peak-to-trough, the whole slide
80 trading days · 2018-08-29 → 2018-12-24
back to the old high on 2019-04-23
What happened that day?
- From the 29 August 2018 peak to the 24 December low the Nasdaq fell 23.64% — 80 trading days
- The Fed had raised rates four times that year and signalled more for the next
- Rising rates hit growth stocks first, since they are priced on distant profits — so the Nasdaq fell further than the S&P 500
- The US–China trade war landed directly on tech companies whose parts and assembly span several countries
- Regulatory and privacy controversies around the large tech names worsened sentiment further
- It bottomed on Christmas Eve and recovered on the Fed's pivot. The old high returned on 23 April 2019
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.