The Nasdaq Composite Index is an average index reflecting the changes in the Nasdaq stock market, and its basic index is 100. Nasdaq's listed companies cover all new technology industries, including software and computers, telecommunications, biotechnology, retail and wholesale trade. It is mainly composed of hundreds of the fastest-growing advanced technology, telecommunications and biological companies in the United States, including well-known high-tech companies such as Microsoft, Intel, AOL and Yahoo, thus becoming synonymous with the "new economy" in the United States.