Nasdaq · January 2, 2013
New year's first day, past the fiscal cliff
+3.07%
single-day change vs previous close
Part of a longer stretch
The climb back to the level of 2000
early in it · 2012-11-15 → 2015-04-23, +78.22% over the whole period
What happened that day?
- The Nasdaq rose 3.07% on the day, the first session of 2013
- Tax cuts were due to expire at year end and spending cuts were set to start automatically. It was called the fiscal cliff
- Congress agreed to extend most of the tax cuts just after the year turned, a deal reached past the deadline
- It settled only the tax side and pushed the spending cuts back two months. The problem was deferred, not solved
- Still, the worst was confirmed to have passed, and from here the Nasdaq rose for more than two years without a large correction
- That advance carried on until the 2000 high was regained in April 2015
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.