Nasdaq · August 26, 2015
After China's crash reached America
+4.24%
single-day change vs previous close
Part of a longer stretch
China's slowdown and the oil crash
early in it · 2015-07-20 → 2016-02-11, -18.24% over the whole period
What happened that day?
- The Nasdaq rose 4.24% on the day. Two sessions earlier, on 24 August, it had been near the low of this decline
- That morning US shares had collapsed within minutes of the open and then recovered, in a shape resembling the 2010 flash crash
- The origin was China. Its market had fallen more than a third in a few weeks that summer, and in August it lowered the value of the yuan
- Devaluing helps exports, but the market read it as a signal of how weak China's economy was
- This day's rebound came after a Fed official said the case for a September rate rise had weakened
- The Fed did postpone September and raised only in December. It is a case of a market event changing the policy calendar
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.