Nasdaq · August 5, 2016
China steadies, oil turns
+22.37%
trough back to the old high
122 trading days · 2016-02-11 → 2016-08-05
this undid the slide that began 2015-07-20
What happened that day?
- From the 11 February 2016 low to 5 August the Nasdaq rose 22.37% — 122 trading days
- It undid the decline caused by China slowing and oil collapsing
- China announced stimulus and signalled it would not devalue the yuan abruptly, which calmed the fear
- Crude, which had fallen below $30 a barrel, rebounded, and the risk of energy company defaults receded
- The Fed also shifted to waiting rather than raising further, which mattered a lot
- The old high returned on 5 August
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.