Nasdaq at record high! Here’s what it means for the ASX 200

Early this morning (our time), the US Nasdaq Composite (INDEXNASDAQ: .IXIC) Index hit a new all-time high after a 0.14% bump. The new high watermark of 14,044.95 points was reached soon after the US markets opened.

This latest rise means that the Nasdaq is now (get ready for some mind-blowing numbers) up 10.3% in 2021 so far, 45.48% over the past 12 months, 223% over the past 5 years, and up 103% since 23 March last year.

Such staggering returns from an index are rather unusual – for comparison, the S&P/ASX 200 Index (ASX: XJO) is still 2.2% down from where it was 12 months ago.

So how did this happen?

Well, the Nasdaq is a rather unusual index in that it only holds some US shares. The Nasdaq is actually one of the 2 major…