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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