Nasdaq · February 5, 2016
One guidance cut, one bad Friday
-3.25%
single-day change vs previous close
Part of a longer stretch
China's slowdown and the oil crash
near the end of it · 2015-07-20 → 2016-02-11, -18.24% over the whole period
What happened that day?
- February 5, 2016 — the Nasdaq fell 3.25% to 4,363.14. No single cause for the day could be pinned down
- A large internet company had cut its guidance the night before, and its stock lost close to half its value in one session
- The problem was not that one name. It put the premise under every ad-funded internet company in doubt
- The jobs report that morning cut both ways too, and the reading that won was that rising wages mean rising rates
- It was the lowest close since October 20, 2014, and the third largest one-day fall of the year
- From December 1, 2015 to February 11, 2016 the episode ran -17.25%
- The low came six days later, on February 11. The rest of the year went up
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.