Word: nasdaq
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Dates: during 2000-2009
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Activists are targeting the IMF and World Bank partly because the organizations are creditors for much of the $350 billion owed by the world's impoverished countries (a sum just one-third of the value lost on the NASDAQ over the past three months). Of these, many of the poorest, like Mozambique, Honduras and Myanmar, have little hope of making repayment. Drastic steps to relieve their plight have gained a spectrum of supporters, including Pope John Paul II; Bono, the U2 rock-band singer; and Jubilee 2000, an international faith-based coalition...
...that dark day 13 years ago, the NASDAQ, then just a funny series of letters to most people, fell all of 11.4%. But on Tuesday the NASDAQ, now our most closely watched market gauge, was down 13.6% on extraordinary volume and with hours yet to trade. And that was on top of a chilling drop the day before, on top of a steady erosion over the previous few weeks that in all took the index down a stunning 28.9% from the March 10 high to the April 4 low--wiping out an incredible $1.1 trillion of value...
Then everything changed. Or should I say nothing changed? Investors flooded into the market to buy the dip, and the NASDAQ roared back to end the day with only modest losses, then skipped through the rest of the week with little grief. Indeed, tech bellwethers, including Oracle and Intel, finished the week with gains...
...past month, the old-economy Dow has been on top, surging 9% while the new-economy NASDAQ has fallen 9%. But things were going the other way in January and February. Where this all leads is anyone's guess. Volatility says nothing about where prices are headed--only that confusion reigns. A lot of market watchers believe that the NASDAQ's low point last week will prove to be a bottom. They cite the quick rebound and the broad strength in blue chips and the general economy, as well as the robust profit reports that are expected in the coming...
Indeed, everyone is. The violent swings of the NASDAQ over the past month have overshadowed the virtual collapse of many battered online companies--e-tailers such as grocer Peapod and music seller CDNow and information-and-advice sites like drkoop.com--that a year ago were among Wall Street's highflyers but now may be down for the count. Stock prices of these hemorrhaging havenot.coms have plunged 50% to 75% below their 12-month highs, and many trade below their initial offering price. Case in point: shares of TheStreet.com a financial-news-and-advice site, peaked...