S&P 500 · October 4, 2022
When another country slowed first
+3.06%
single-day change vs previous close
Part of a longer stretch
The 2022 inflation bear market
near the end of it · 2022-01-03 → 2022-10-12, -25.43% over the whole period
What happened that day?
- On 4 October 2022 the S&P 500 rose 3.06%
- The day before, Australia's central bank had raised by less than expected
- If another country slows first, the reasoning went, the Fed would follow
- A US job openings report around the same time also fell sharply, read as a cooling labour market
- Through this period the market kept hunting for evidence that the Fed was about to turn. It did so several times that year
- This rally did not last three days. A strong jobs report brought it straight down
- In this stretch the index was 16.91% 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.