After an absence of 15 years, investors briefly watched the Nasdaq Composite trade above the fabled 5,000 threshold on Monday.
The US technology benchmark previously stood above this level in March 2000 at the height of the dotcom bubble, only to experience a stunning decline with the Nasdaq plumbing a low of 1,114.11 by October 2002.
Now with many global equity benchmarks recording all-time and multi-year highs, as central banks continue pumping money into the financial system, the Nasdaq is finally approaching a peak that many investors thought would take decades to reclaim. On an inflation adjusted level, the Nasdaq significantly trails its internet boom peak.
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