S&P 500 · September 16, 1997
A record high, just before the crisis
+2.81%
single-day change vs previous close
What happened that day?
- On 16 September 1997 the S&P 500 rose 2.81%
- The August dip had been undone and the index was back near its record
- Growth continued with stable prices, and the fear of more rate hikes had faded
- At the same moment, currencies were collapsing in Thailand, Indonesia and Korea
- The US market took that as its own problem six weeks later — the plunge of 27 October
- No single trigger can be pinned to this day
- The summer dip had been 8.68% from 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.