Nasdaq · March 30, 2000
Selling in the last week of the quarter
-4.02%
single-day change vs previous close
Part of a longer stretch
The eleven weeks when the bubble first broke
early in it · 2000-03-10 → 2000-05-23, -37.32% over the whole period
What happened that day?
- The Nasdaq fell 4.02% on the day
- There was no single trigger. Late March swung widely in both directions from session to session
- It was the final week of the quarter, when fund managers tidy their books and often sell what has risen most
- The character of the market was changing here. For the previous four months a down day was reliably followed by a big up day, and from mid-March that stopped being true
- The index was down about ten percent from the high by now. Many still read it as a correction
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.