S&P 500 · December 18, 2024
A cut that came with a warning
-2.95%
single-day change vs previous close
What happened that day?
- On 18 December 2024 the S&P 500 fell 2.95%
- The Fed cut its policy rate by one step that day, exactly as expected
- What came with it was the outlook. The number of cuts officials pencilled in for the following year had halved since three months before
- It amounted to cutting while promising to cut less. The market looked at the second half of that sentence
- The reason was inflation, which was not coming down as fast as hoped
- The Dow closed lower for a tenth straight session that day
- The index kept sliding into the following spring, ending 18.18% below 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.