S&P 500 · February 18, 2000
A market where only tech was rising
-3.04%
single-day change vs previous close
What happened that day?
- On 18 February 2000 the S&P 500 fell 3.04%
- The market had split in two. Technology and telecoms kept rising; everything else kept falling
- Manufacturers, retailers and banks — the companies actually making money — were called the old economy at the time
- With money crowding into one side, it had to leave the other. The S&P 500 holds both, so it was held down
- No single trigger can be pinned to this day
- In this stretch the index was 9.25% below its peak
- A month later that arrangement flipped
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.