Nasdaq · December 18, 2024
A cut that came with a warning (Nasdaq)
-3.56%
single-day change vs previous close
Part of a longer stretch
The AI wobble and the tariff shock
early in it · 2024-12-16 → 2025-04-08, -24.32% over the whole period
What happened that day?
- 18 December 2024 — the Nasdaq fell 3.56% to close at 19,392.69
- The Fed cut its policy rate by one step that day, as expected
- What came with it was the projection for next year. The number of cuts the committee expected had halved since three months earlier
- It cut while saying it would cut less from here. The market read the second half
- The reason was inflation: it was not coming down as much as hoped, and the projections said so
- Technology fell hardest because its price is more sensitive to rates. Discounting far-off profits puts the rate in the denominator
- From two sessions earlier to 8 April 2025 the index fell 24.32% over this episode
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.