S&P 500 · May 16, 2001
The day after the fifth cut
+2.85%
single-day change vs previous close
Part of a longer stretch
The dot-com bust hits the S&P 500
midway through · 2000-03-24 → 2002-10-09, -49.15% over the whole period
What happened that day?
- May 16, 2001 — the S&P 500 rose 2.85% to 1,284.99
- The Fed had cut the day before — its fifth cut of the year, an unbroken run since January
- The market barely moved on the announcement itself. The gain arrived a session later
- It capped three straight gains and was the highest close since February 16
- The reason for cutting — a weakening economy — had not changed. From January 30 to September 7 the episode ran -20.96%
- More cuts followed that year. The index turned much later
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.