Nasdaq · April 23, 2001
A setback inside the rally
-4.81%
single-day change vs previous close
Part of a longer stretch
Seven weeks bought by rate cuts
midway through · 2001-04-04 → 2001-05-22, +41.19% over the whole period
What happened that day?
- The Nasdaq fell 4.81% on the day
- It came a little over two weeks into the April rally. Days like this appear inside rising phases too
- Large technology firms were reporting that week, and positions were trimmed ahead of the announcements
- Results in this period were mostly bad. But the market already knew that, so it watched only how bad, and what was said about the quarters ahead
- In such a phase shares rise on poor results if the outlook is less poor
- The rally ran on to 22 May
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.