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A security officer stands guard outside the Nasdaq MarketSite in New York's Times Square, in this August 23, 2013, file photo.
A security officer stands guard outside the Nasdaq MarketSite in New York's Times Square, in this August 23, 2013, file photo.
(ANDREW KELLY/REUTERS)

Nasdaq at 4,000 is no repeat of 1999

When you see the Nasdaq composite index closing above 4,000 for the first time since 2000, as it did on Tuesday, you can be forgiven for seeing trouble ahead. The index, more than any other, reflected the insanity of the technology bubble of the late 1990s – and while 4,000 is still 20 per cent below its peak (also in 2000), it’s back in the foothills.