Nasdaq · February 3, 2022
One company pulled the index down
-3.74%
single-day change vs previous close
Part of a longer stretch
The 2021–22 tech bear market
early in it · 2021-11-19 → 2022-12-28, -36.40% over the whole period
What happened that day?
- On 3 February 2022 the Nasdaq fell 3.74%
- The evening before, a large social network had reported that its user count had fallen for the first time
- The next day its shares lost more than a quarter of their value — the largest one-day loss of market value on record at the time
- When a company's weight in the index is large enough, its day becomes the index's day. This was one of those
- A technology company that stops growing has to be priced on a different basis, because growth was the basis
- In this stretch the index was 29.85% below its peak
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.