Nasdaq falls more than 50% from its 2000 peak

The Nasdaq has fallen more than 50% since its peak a year ago but even so is still on a P/E of 166 times. Since the market peak of 5048.62 on 10 March 2000 the index has seen a dive towards a year low of 2109 as of 10 March 2001. John Hatherly, head of global analysis, finds the current P/E, supplied by Bloomberg, surprising. He said: "I believed it to be around 100 but if all the losers are being calculated in then this may be right." Grant Wilson, North American fund manager at Martin Currie, believes looking at a headline P/E can be misleading and that the components of the index ne...