Nasdaq · April 5, 1994
A bounce inside the year bonds broke
+3.24%
single-day change vs previous close
What happened that day?
- On 5 April 1994 the Nasdaq rose 3.24%
- That February the Fed had raised rates without warning — its first hike in five years, and the market was not positioned for it
- Bond prices fell all year. When losses appear in what everyone treats as the safe asset, stocks shake too
- Late March into early April was the worst of it, and this day was the bounce that followed
- No single trigger can be pinned to it. It reads as a give-back after a sharp fall
- From the peak the index was down 13.7% in this stretch
- The lesson of that year is why the Fed now signals its direction in advance
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.