Monday, 10 August 2009

NASDAQ crashes 2000

(By Richard Holway 8.30am Monday 10th Aug 09) Just noticed, whilst doing my weekly stock index update, that NASDAQ closed at 2000 on Friday. That's a massive 25% gain in 2009 YTD. But just to bring you down to earth again, NASDAQ was 2414 a year back on 8th Aug 08 - so it is still down 20% on a year back.

The UK FTSE SCS Index continued to power ahead - up 3.7% last week making an even more massive 45% gain in 2009 YTD. It really does defy logic. It can't be anything to do with the market or the outlook. "Irrational exuberance" has returned...

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