S&P 500 · February 10, 2009
The bank plan that disappointed
-4.91%
single-day change vs previous close
Part of a longer stretch
The Global Financial Crisis bear market
near the end of it · 2007-10-09 → 2009-03-09, -56.78% over the whole period
What happened that day?
- On 10 February 2009 the S&P 500 fell 4.91% in a single day
- That day the US Treasury Secretary presented the new administration's financial stability plan
- What the market wanted to know was who would buy the banks' bad assets, and at what price
- The announcement left both out. There was a direction but no numbers
- With the uncertainty untouched, selling concentrated in bank shares
- It was resolved six weeks later on 23 March when a concrete purchase plan was published
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.