Nasdaq · March 26, 2012
Six months after Europe opened the taps
+33.68%
trough back to the old high
120 trading days · 2011-10-03 → 2012-03-26
What happened that day?
- From the low on 3 October 2011 to the high on 26 March 2012, the Nasdaq rose 33.68% over 120 trading days
- In December and again in February the European Central Bank lent banks three-year money very cheaply
- Once the fear of banks failing lifted, Italian and Spanish yields came down. It did not solve the problem; it bought time
- In the US, a smartphone maker's results came in far above expectations. Its weight in the index was large enough to lift the index itself
- The Nasdaq passed three thousand in this stretch for the first time since 2000
- But the money lent in Europe had only bought time, and by spring Spanish banks shook the market again
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.