Nasdaq · March 25, 2004
A bounce inside the rate-rise worry
+3.02%
single-day change vs previous close
Part of a longer stretch
The advance that stopped when rates turned
early in it · 2004-01-26 → 2004-08-12, -18.63% over the whole period
What happened that day?
- The Nasdaq rose 3.02% on the day
- It was a bounce inside the two-month slide that had run since the January high
- The market's focus here was employment. If jobs grew, the calculation went, the Fed would start raising rates
- Better employment cut both ways for shares. The economy improves, but the price of money goes up
- The Fed did begin raising that June, and the Nasdaq kept sliding into August
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.