This is equivalent to investors using "concepts" to build a skyscraper. Although this skyscraper is tall, beautiful and majestic, its foundation is made of sand and cannot withstand any vibration. Once the market is shaken, the skyscraper will immediately collapse.
However, investors whose eyes and minds have been blinded by the booming Internet market simply cannot see this danger, or they do see it but are subconsciously unwilling to believe it is true.
So, on March 13, 2000, an inadvertent "coincidence" caused a vibration, and then this vibration, driven by other inadvertent vibrations, eventually evolved into a strong earthquake wave enough to overturn the building in a very short period of time, eventually causing this seemingly beautiful building to collapse in an instant!
On March 10, 2000, the last trading day of the second week of March for U.S. stocks, the Nasdaq index was still extremely hot. It even touched a high of 5132.52 points during the trading session. Although it finally closed at 5048.62 points, many investors were still optimistic about the Nasdaq.
Then, after a two-day break on Saturday and Sunday, the Nasdaq opened as usual on the morning of March 13, but on that day, the stocks of high-tech leaders such as Cisco, Oracle, Microsoft, Yahoo, Dell, etc. were all hit by a large number of selling orders. Of course, this sudden selling order was probably some investors' profit-taking, but they all happened to be sold at the same time, so on that day, the Nasdaq fell an incredible 259 points, a drop of more than 4%.
At the same time, many Internet companies released their annual reports for last year, all of which reflected an unavoidable failure, that is, during the Christmas period of 1999, the sales of many Internet companies did not reach the expected figures.
The annual report and the sudden sell-off immediately triggered a series of chain reactions. In fact, as the Internet market has developed to this point, many institutions have already seen the dangers in it.
Then, this unexpected shock immediately caused many investment institutions and various funds to liquidate their positions, which led to an avalanche-like collapse.
In just six days, the Nasdaq plunged 900 points!
The bursting of the Internet market bubble has exploded uncontrollably!
In the end, this great crash lasted from March 2000 to October 2002, a full 31 months, and the Nasdaq fell from a high of 5132 points to 1108 points!
In two and a half years, the Nasdaq lost 80% of its value! The Internet market has lost $4 trillion in market value...
In those two years, the entire Internet market was just like the song "Bubble" sung by Deng Ziqi - it was all bubbles...
For a speculative giant like KY Investment Fund, wouldn't it be a waste to miss such a good market and such a feast?
So, Yang Jing is back, and he will be here to fire the first shot of KY Investment Fund's attack on the Internet bubble!
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