S&P 500 · May 30, 2007
The 2002–07 recovery
+97.00%
trough back to the old high
1,166 trading days · 2002-10-09 → 2007-05-30
this undid the slide that began 2000-03-24
What happened that day?
- From the 9 October 2002 low to 30 May 2007 the S&P 500 rose 97% — 1,166 trading days
- It undid the dot-com decline that had begun in March 2000
- The base of the rally was the Fed holding rates very low to revive the economy
- Cheap borrowing made houses easy to buy, the housing market heated up, and construction and finance pulled the economy along
- China acting as the world's factory lifted commodities and emerging markets at the same time
- The trouble was that mortgage lending was holding the whole thing up. Four months after the old high was regained, the crisis decline began in October 2007
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.