> > As someone noted, this is not all that
> > much of a drop.
> 70%?! Looks pretty big to me.
By this criterion you should be willing to join Jones and bet that the Dow will go below 3,000, right? That you wouldn't, cause you're not loopy like Jones, signifies an implicit agreement that a drop in the NASDAQ is of less import, ergo is "smaller" and not a "crash", in the same way as a similar fall, percentage- wise, in the Dow.