Word: nasdaq
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Dates: during 2000-2009
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Talk about a wild ride. Kristian Dicke and Richard Geibel, two Germans in their 30s who had been university roommates, launched their business-to-business exchange March 11, 2000. That was the day after the nasdaq peak, the beginning of the yearlong global tech-stock slide. Matchbid - which has since transformed itself into a software firm - has survived...
...those companies listed on the stock markets, financial institutions got in on the act, driving valuations and share prices through the roof. On March 10, 2000, Germany's Neuer Markt, France's Nouveau Marché, Italy's Nuovo Mercato and the granddaddy of the high-tech bourses, America's nasdaq, all reached new peaks. Then the tide turned, taking with it many investors, market analysts and the brash young things with their big dreams. In the past year, the combined value of all nasdaq stocks has fallen by more than $3 trillion. On this side of the Atlantic, the combined...
...fair, Yahoo's news was just one act in the carnival of carnage that was high tech last week. Cisco and Intel predicted big revenue drops and job cuts, a combination that set the nasdaq up for a 5.3% fall on Friday. The index is off 59% from its peak, reached a year earlier. Even the good news hurt--unemployment was stable but wages grew, undermining the Street's expectation that the Federal Reserve will deliver a big interest-rate cut later this month...
What sweet irony. Even as the new economy-loaded NASDAQ index continued its death spiral last week, investors gobbled up shares of Krispy Kreme Doughnuts as if cholesterol were a newfound health food. And while the tech gang was frantically dialing down its earnings estimates, Krispy Kreme announced profits that easily beat the forecasts.The stock soared to $79.19, up $6.68 in an otherwise dreadful week...
...after the appointment was officially announced at Loeb House, the NASDAQ plunged 6 percent, and Wall Street had its first bear market of the millennium. The faltering economy is a problem for President George W. Bush, who was noted during the presidential debates for his insistence that critics of his tax plan were using "fuzzy math." If government revenues dry up, Bush may have to backtrack on his huge tax cut proposal...