Nasdaq · December 15, 2022
Higher for longer, spelled out
-3.23%
single-day change vs previous close
Part of a longer stretch
The 2021–22 tech bear market
near the end of it · 2021-11-19 → 2022-12-28, -36.40% over the whole period
What happened that day?
- On 15 December 2022 the Nasdaq fell 3.23%
- The day before, the Fed had stepped its increase down to two steps — the slowdown the market had waited for
- But the forecasts released alongside it showed officials expecting a higher end point than before
- Slower, but further, and held there longer
- What the market wanted was for the hikes to end, not to continue gently
- The European Central Bank also struck a hard line the same day, deepening the fall
- In this stretch the index was 21.23% below its 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.