Nasdaq · May 27, 2010
Beijing said it was keeping the European bonds
+3.73%
single-day change vs previous close
Part of a longer stretch
Two months of Greece and a flash crash
midway through · 2010-04-23 → 2010-07-02, -17.33% over the whole period
What happened that day?
- 27 May 2010 — the Nasdaq rose 3.73%. No single cause for that one day could be pinned down
- It followed three straight down-days. The market was swinging every few days on news out of Europe's debt crisis
- Southern European government bonds were collapsing, starting with Greece. The European banks holding that paper were the next worry
- This was also the day word came that China had no plans to sell the European bonds it held. A large holder not selling supports a price
- American markets were still carrying the aftershock of April's flash crash — the memory of prices vanishing within minutes
- The bounce did not change the trend. The episode low came in early July
- From the late-April high to the July low the index fell 17.33%
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 put together from the public record; where a specific source was consulted it is listed above.