Nasdaq Days Like This Once Were Common. During the Dot-Com Crash
(Bloomberg) -- That was some ride U.S. stocks just took.
The Nasdaq 100, along with the rest of the market, turned on a dime in the middle of its worst selloff in two years and vaulted back into the green, erasing a loss of nearly 5%. The move was the latest in a series of heart-stopping turnarounds that have dogged markets amid rising tensions around Federal Reserve policy.
Days like Monday are not unprecedented. But when they’ve come, it’s been at times that are not remembered fondly by equity bulls. Today’s move was the biggest of its kind since Jan. 8, 2001, in the middle of the come-down from the dot-com bubble. Most of the other similar moves occurred in the three years that crash took to play out, with a few others coming in the heart of the 2008 financial crisis.
The table below shows the past instances where the Nasdaq 100 erased an intraday decline of bigger than 4%.
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