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A Year’s Worth of Nasdaq Tumult Gets Jammed Into Three Weeks

  • Tech-heavy index erases gain of nearly 2%, enters correction
  • Volatility continues to grip U.S. equity markets in 2022
The Nasdaq MarketSite in New York. 

The Nasdaq MarketSite in New York. 

Photographer: Seth Wenig/AP Photo

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Many ways exist to chart shakiness in the stock market. There’s options-derived volatility indexes, price relative to moving averages and maximum drawdowns, to name a few.

Then there’s the type of whole-cloth vanishing act the Nasdaq 100 has been staging in recent weeks, sessions in which the index appears headed for resounding gains or declines -- before the whole thing goes poof in a matter of minutes. It happened again Thursday, when the tech-heavy gauge erased a 2% rally and kept falling in its worst bearish reversal in 17 months.