Nasdaq · June 3, 2002
First session of a falling-dollar summer
-3.29%
single-day change vs previous close
Part of a longer stretch
Nine months when the books could not be trusted
midway through · 2002-01-04 → 2002-10-09, -45.90% over the whole period
What happened that day?
- June 3, 2002 — the Nasdaq fell 3.29% to 1,562.56. No single cause for the day could be pinned down
- The factory survey that day missed. The recovery story written in January was wobbling
- Distrust of the accounts had not gone away — the question of whose numbers break next kept returning
- The dollar was sliding quickly, read as money leaving US assets
- It was the second straight decline and the lowest close since October 2, 2001
- From March 8 to September 30 the episode ran -39.26%
- The bottom of that summer was still a long way off
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.