Nasdaq · February 11, 2016
The day bank fears peaked
-0.39%
single-day change vs previous close
Part of a longer stretch
China steadies, oil turns
early in it · 2016-02-11 → 2016-08-05, +22.37% over the whole period
What happened that day?
- The Nasdaq fell 0.39% on the day — the bottom of this decline
- Doubts about whether a large European bank could pay interest on certain bonds sent financial shares down hard
- Oil fell to twenty-six dollars a barrel at the same time, and worry that energy companies could not repay their debts had spread to the banks
- More countries adopting negative interest rates added to the unease, because negative rates make it harder for banks to earn
- What the market feared was a repeat of 2008. In fact bank capital was far thicker than it had been then
- The recovery that began at this bottom ran to 2018
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.