Nasdaq · November 4, 2020
Up before anyone knew who won
+3.85%
single-day change vs previous close
What happened that day?
- On 4 November 2020 the Nasdaq rose 3.85%
- The day before had been the US presidential election, and no winner had been declared yet
- The market went up anyway. Traders concluded that no single side would take the White House, the Senate and the House together
- If that held, large tax rises and tougher regulation would be hard to push through — good conditions for tech
- It ran against the idea that uncertainty means falling prices. What a market prices is not uncertainty itself but the direction it expects
- This was part of the recovery from the September pullback, and the index was back near its highs that week
- That pullback had been 11.81% from the peak
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.