Nasdaq · February 11, 1999
A two-day round trip
+4.16%
single-day change vs previous close
What happened that day?
- On 11 February 1999 the Nasdaq rose 4.16%
- It undid the fall from two days earlier. Swings on that short a cycle were characteristic of the period
- The reason was who was trading. Individuals buying and selling for themselves were a fast-growing share of the market
- Cheap brokers taking orders over the internet had just spread, and trading several times a day became common
- Money that comes in for a short look leaves on a short look. That makes daily swings larger
- No single trigger can be pinned to this day
- The pullback had been 10.41% from the 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.