Some bros are crowing about the 2nd highest Nasdaq stock market gains in history so I figured it's worth pointing out that:

1. the 1st, 4th, 7th, 8th (tied), and 10th largest single day Nasdaq gains came during the dotcom crash

2. the 3rd and 5th largest single day gains came in the middle of the 2008 financial crisis

3. the 6th and 8th (tied) largest gains came during the covid panic in 2020

In other words all 10 of the highest gaining days in Nasdaq history, with the possible exception of today (still TBD but not looking promising IMHO), came amidst longer term major market crashes when investors piled into what they thought was the market bottom. Other than covid panic days none of the 10 biggest gainz days the Nasdaq has seen were a good time to “buy the dip”.

Massive market moves like this are in no way a sign that markets are healthy and performing their societal function. In fact quite the opposite - massive intraday moves are historically almost always a symptom of the disease of speculative mania refusing to accept reality (“buy the dipppp!!!!”).

Also FWIW I’m also old enough to remember 2 days ago when an incorrect internet rumour posted by some random guy on Twitter moved $4 trillion in asset prices. A market where that can happen is deeply broken in ways it will take economists decades to fully understand.