S&P 500 · June 26, 2008
The day it became a bear market
-2.94%
single-day change vs previous close
Part of a longer stretch
The Global Financial Crisis bear market
midway through · 2007-10-09 → 2009-03-09, -56.78% over the whole period
What happened that day?
- On 26 June 2008 the S&P 500 fell 2.94%
- Oil passed 140 dollars a barrel that day, a record
- A large bank announced a dividend cut and job losses the same day, and bank shares fell hard
- The Dow closed twenty percent below its high, formally entering a bear market
- With inflation and a crisis arriving together, the Fed could not answer either properly
- In this stretch the index was 38.54% below its peak
- Three months later Lehman Brothers failed and the crisis moved to an entirely different stage
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.