Word: nasdaq
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Dates: during 2000-2009
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Bernard Madoff, the former Nasdaq chairman who was charged on Thursday with massive fraud, was long considered to be quirky. Employees at the offices of his eponymously named brokerage firm in midtown Manhattan's Lipstick Building had to follow strict rules for what they kept on their desk. Family photos were allowed but only if they were displayed in a simple black frame...
...firm, which he started five decades ago with money he earned as a lifeguard in Far Rockaway, Queens, was for a long time primarily in the business of acting as a middle man between buyers and sellers of stocks. It is an essential function for a market like the Nasdaq, which doesn't have an actual trading floor where buyers and sellers can meet face-to-face. Madoff's firm was a major driver behind the growth of the Nasdaq, creating a system that courted brokers who had mostly traded stocks on the larger New York Stock Exchange...
...sixth day that saw the biggest point gain ever, the Dow Jones industrial average on Tuesday finished down 76.6 points, or 0.8%, an extremely mild loss considering the rollercoaster ride of recent days. The S&P 500, a broader measure of the stock market, finished down 0.5%, and the NASDAQ lost...
Exhibit A in the possible return to normalcy was the 3.5% loss in the tech-heavy NASDAQ, compared to the much smaller drop in the Dow and S&P. The indexes had been moving pretty much in tandem, but broke their lockstep on Tuesday on concerns about slower growth at Google, Intel's after-the-bell third-quarter earnings report, and how much companies will be investing in technology next year. Though a sharp drop, it was a hopeful sign that investors may have returned to caring about stocks' fundamentals and have left the sphere of fear that had been...
...point gain in history - all the more remarkable considering the index of blue-chip stocks had just come off its worst weekly loss on record. The S&P 500, a broader measure of the stock market, saw its largest one-day percentage gain since 1939, and the tech-heavy NASDAQ jumped 12%. Seems a gaggle of European countries rolling out billions of dollars to guarantee loans and recapitalize banks, and indications that the U.S. might do some of the same, was the confidence boost everyone needed...