Nasdaq Jumps 100.25, or 4.8 Percent; Best Point Gain in 6 Years

Eric Savitz — Thu, 18 Sep 2008 22:05:54 +0000

After the worst day for the Nasdaq Composite in seven years, the index today turned around and posted a gain that was equally stunning, as the Street became hopeful that the financial crisis is nearing a turning point.

The Nasdaq Composite today gained 100.25 points, or 4.78 percent. That was the Nasdaq’s fattest one-day gain in terms of points since May 8, 2002. On a percentage basis, it was the best day for the index since March 13, 2003. There have been 56 days since the index debuted in 1971 with larger points gains; there have been 37 days with bigger percentage gains.

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Nasdaq Jumps 100.25, or 4.8 Percent; Best Point Gain in 6 Years