The Nasdaq Composite just staged its biggest intraday comeback in nearly 2 years, ending positive after a 2.7% plunge

The Nasdaq Composite just staged its biggest intraday comeback in nearly 2 years, ending positive after a 2.7% plunge

It was a recovery for the Wall Street record books on Monday.

The Nasdaq Composite Index COMP, +0.05%, down 2.72% at its intraday low at 14,530.23, eked out a rally for the ages to bang out a finish in positive territory, which marked the largest comeback for the technology-laden index since Feb. 28, 2020, according to data compiled by Dow Jones Market Data.

Back in late February of 2020, the Nasdaq Composite fell 3.53% on an intraday basis, but ended the day up 0.01%.

Making the intraday rebound notable for the Nasdaq Composite was that the index’s slump was putting it at risk of closing in correction for the first time since March 8.  The index, which finished at 14,942.83, needed to stay above 14,451.69 to avoid a correction from its Nov. 19 record close peak. A correction is commonly defined by market technicians as…

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