Question about 'as'
"This is perhaps due to the downfall of the overall stock market *as* many security issues experienced extreme volatility because of the irrational exuberance displayed in the marketplace."
In this context, which number is a proper meaning of *as*?
1 while sth else is happening
2 in the way in which
3 used to state the reason for sth
4 used to make a comment or to add information about what you have just said
5 used to say that in spite of sth being true, what follows is also true
Thanks for your help!