Nasdaq in 2008

The Nasdaq Composite fell 40.5% in 2008, from 2,652.28 at the end of 2007 to 1,577.03. Its highest close was 2,609.63 on Jan 2, and its lowest 1,316.12 on Nov 20. The biggest one-day fall was −9.1% on Sep 29 and the biggest rise +11.8% on Oct 13. Adjusted for inflation, it lost 40.6%.

Change in 2008

−40.5%

2,652.28 → 1,577.03

High

2,609.63

Jan 2

Low

1,316.12

Nov 20

After inflation

−40.6%

US CPI

Up days

117 of 253

longest run 6 up, 7 down

Below record

-68.8%

at the end of 2008

Nasdaq, daily closes 2008

Numbers mark the events below

Key Events in 2008

What happened, and how the Nasdaq moved — on the day (or the next trading day) and about a month later.

1
Tuesday, January 22

Fed makes an emergency inter-meeting cut of 75 basis points to 3.50%. Source

Nasdaq: −2.0% that day · −0.6% a month later
2
Wednesday, February 6 From the data

Enters a bear market: 20% below its peak of 2,859.12 (October 31, 2007).
3
Sunday, March 16

JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source

Nasdaq: −1.6% next trading day (Mar 17) · +3.3% a month later
4
Sunday, September 7

Fannie Mae and Freddie Mac are placed into federal conservatorship. Source

Nasdaq: +0.6% next trading day (Sep 8) · −17.4% a month later
5
Monday, September 15

Lehman Brothers files for Chapter 11 bankruptcy protection. Source

Nasdaq: −3.6% that day · −18.4% a month later
6
Monday, September 29 From the data

Biggest one-day fall of the year: −9.1%.
7
Friday, October 3

Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source

Nasdaq: −1.5% that day · −12.9% a month later
8
Monday, October 13 From the data

Biggest one-day rise of the year: +11.8%.
9
Thursday, November 20 From the data

Bear market low: 1,316.12, 54.0% below the peak.
10
Tuesday, December 16

Fed cuts its federal funds target to a range of 0 to 0.25%. Source

Nasdaq: +5.4% that day · +0.2% a month later

Biggest days of 2008

Best days		Worst days
Oct 13	+11.8%	Sep 29	−9.1%
Oct 28	+9.5%	Dec 1	−9.0%
Nov 13	+6.5%	Oct 15	−8.5%
Nov 24	+6.3%	Nov 19	−6.5%
Oct 16	+5.5%	Oct 7	−5.8%

Volatility: 41.1% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	2,389.86	−9.9%	2,609.63	2,292.27
Feb	2,271.48	−5.0%	2,413.36	2,271.48
Mar	2,279.10	+0.3%	2,341.05	2,169.34
Apr	2,412.80	+5.9%	2,428.92	2,275.82
May	2,522.66	+4.6%	2,533.73	2,438.49
Jun	2,292.98	−9.1%	2,549.94	2,292.98
Jul	2,325.55	+1.4%	2,329.72	2,212.87
Aug	2,367.52	+1.8%	2,453.67	2,285.56
Sep	2,091.88	−11.6%	2,349.24	1,983.73
Oct	1,720.95	−17.7%	2,069.40	1,505.90
Nov	1,535.57	−10.8%	1,780.12	1,316.12
Dec	1,577.03	+2.7%	1,589.89	1,398.07

Other Markets in 2008

Change over the calendar year.

Market	Change	Year-end
Nasdaq	−40.5%	1,577.03
Dow Jones Industrial Average in 2008	−33.8%	8,776.39
S&P 500 in 2008	−38.5%	903.25
Russell 2000 in 2008	−34.8%	499.45
Nikkei 225 in 2008	−42.1%	8,859.56
Gold in 2008	+4.3%	$869.75
Silver in 2008	−26.9%	$10.79
WTI crude oil in 2008	−53.5%	$44.60
Brent crude oil in 2008	−61.8%	$35.82
US 10-year Treasury yield in 2008	−1.79 pp	2.25%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Nasdaq in 2008: FAQ

How much did the Nasdaq Composite fall in 2008?

What were the highest and lowest closes of the Nasdaq Composite in 2008?

Highest: 2,609.63 on January 2, 2008. Lowest: 1,316.12 on November 20, 2008. It closed higher on 117 of 253 trading days.

What happened to the Nasdaq Composite on December 16, 2008?

Fed cuts its federal funds target to a range of 0 to 0.25%. The Nasdaq Composite rose 5.4% that day, and was +0.2% a month later.

Data: Daily closes since the index began at 100 on 5 Feb 1971. Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.