Nasdaq · February 24, 2022
Why it rose on the day the war began
+3.34%
single-day change vs previous close
Part of a longer stretch
The 2021–22 tech bear market
early in it · 2021-11-19 → 2022-12-28, -36.40% over the whole period
What happened that day?
- On 24 February 2022 the Nasdaq rose 3.34%
- Russia invaded Ukraine in the early hours, and the index opened sharply lower
- Then it reversed completely during the session and closed higher
- The reason is that it was already in the price. Reports of an imminent invasion had been pushing stocks down for weeks
- Markets price not the event but how far the event differs from what was expected. If it matches, confirmation removes uncertainty
- The same thing happened on the day the Gulf War began in 1991
- In this stretch the index was 33.7% 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.