Nasdaq · June 29, 2012
The day banks could be helped directly
+3.00%
single-day change vs previous close
Part of a longer stretch
Three months changed by one sentence
early in it · 2012-06-01 → 2012-09-14, +15.89% over the whole period
What happened that day?
- The Nasdaq rose 3% on the day
- Overnight a European summit agreed that the rescue fund could put money into banks directly
- Until then the fund lent to the country and the country put it into the bank. That raises the country's debt and endangers it further
- Spain was caught in exactly that trap, its own credit shaking as it tried to save its banks
- Injecting directly breaks the loop. The agreement later led to unified European bank supervision
- It was also the last session of the first half of the year
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.