Nasdaq · November 19, 2008
Near the crisis floor
-6.53%
single-day change vs previous close
Part of a longer stretch
A halving that took seventeen months
near the end of it · 2007-10-31 → 2009-03-09, -55.63% over the whole period
What happened that day?
- On 19 November 2008 the Nasdaq fell 6.53% in a single day
- Congress was blocking aid to US carmakers and the chance of failure was rising
- If the carmakers went, tens of thousands of supplier firms stopped with them and all of manufacturing was at risk
- Price data was collapsing at the same time, adding a deflation worry — falling prices make existing debts heavier in real terms
- Tech was hit directly too, as corporate IT spending and advertising were being cut
- The floor of this leg came days later; the final low was March 2009
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.