Nasdaq · July 12, 2000

A summer bounce into earnings season

+3.62%

single-day change vs previous close

Part of a longer stretch

The summer that still believed

near the end of it · 2000-05-23 → 2000-07-17, +35.08% over the whole period

What happened that day?

12 July 2000 — the Nasdaq rose 3.62%. No single cause for that one day could be pinned down
It was the week second-quarter results began — the last quarter in which technology numbers still looked fine
After the spring crash the index had been swinging up and down, with no direction yet set
A sense that the Fed had stopped after its May increase also supported prices
The bounce did not hold through the summer. Warnings poured in from the autumn and it broke down again
From the late-March high to the November low the index fell 40.22%

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 put together from the public record; where a specific source was consulted it is listed above.