Nasdaq · February 8, 2018
The Thursday that made it a correction
-3.90%
single-day change vs previous close
What happened that day?
- On 8 February 2018 the Nasdaq fell 3.9%
- Three days after the volatility products blew up, the market bounced briefly and then rolled over again
- This was the day the major indexes reached roughly ten percent below their highs — the size of move people call a correction
- The background had not changed: rates might rise faster than expected
- As it turned out, this was the bottom. The direction changed the next day
- Peak to trough it was 9.71%
- The index was back at its old high by August that year
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.