The Nasdaq Composite bid adieu to its worst bear market in over a decade today.
The tech-heavy index gained 2.9% on Wednesday and entered bull territory for the first time in 108 days, ending its longest downswing since 2008, when the index fell 54% and the period lasted 218 trading days, according to Dow Jones Market Data.
A bear market ends when an index rises 20% off of recent lows.
The Nasdaq closed on Wednesday at 12,855, up 20.8% from its recent low in November 2020.
The upward move was bolstered by a strong key inflation report which showed a better-than-expected slowdown for prices in the United States.
Major tech stocks rose on the news, Facebook parent company Meta was up by 5.8% and Netflix was 6% higher.
But it's not all cheery. The Nasdaq is still down 19.9% from its record finish in November 2021.
The S&P 500 also made news on Wednesday, hitting its highest level in three months.