Nasdaq · July 14, 1980
The credit-controls-lifted rally
+34.19%
trough back to the old high
74 trading days · 1980-03-27 → 1980-07-14
this undid the slide that began 1980-02-08
What happened that day?
- From the 27 March 1980 low to 14 July the Nasdaq rose 34.19% — 74 trading days
- It undid the decline caused by credit controls and the silver market collapse
- The Fed withdrew the credit controls it had imposed in March after only four months
- The reason was that they worked far better than intended — spending fell sharply and the economy dropped into recession fast
- With the controls gone and rates falling, the stocks that had been pressed down bounced quickly
- The old high returned on 14 July. Inflation was still unbeaten, though, and high rates came back the following year
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.