S&P 500 · July 26, 1989
Back from Black Monday
+50.97%
trough back to the old high
414 trading days · 1987-12-04 → 1989-07-26
this undid the slide that began 1987-08-25
What happened that day?
- From the 4 December 1987 low to 26 July 1989 the S&P 500 rose 50.97% — 414 trading days
- It undid the slide that ran from August 1987 through Black Monday
- For the size of the crash, the damage to the real economy was small — corporate profits kept growing
- The Fed said immediately after the crash that it would supply whatever cash the system needed. It was the first test for Alan Greenspan, newly in the chair
- In other words 1987 was closer to an accident of market plumbing than a verdict on the economy
- The old high was back on 26 July 1989
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.