S&P 500 · October 11, 2002
Two days past the bear-market bottom
+3.91%
single-day change vs previous close
Part of a longer stretch
The 2002–07 recovery
early in it · 2002-10-09 → 2007-05-30, +97.00% over the whole period
What happened that day?
- The S&P 500 rose 3.91% on the day. 9 October had been the bottom of this bear market
- What had pressed on the market all summer was not prices but the books, as frauds at a large energy company and a large telecom were exposed in turn
- A law making executives answerable passed that summer, and when most of them met the August deadline to certify their accounts, the distrust began to lift
- The rebound came not from good news but from confirmation that the worst was not happening
- Even so this was the first bounce in a long bottoming, not the start of the recovery. Shares slipped again four months later
- The S&P 500 regained its 2000 high in May 2007
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.