Nasdaq · November 24, 1992
The late 1992 recovery
+17.91%
trough back to the old high
105 trading days · 1992-06-26 → 1992-11-24
this undid the slide that began 1992-02-12
What happened that day?
- From the 26 June 1992 low to 24 November the Nasdaq rose 17.91% — 105 trading days
- It undid the first-half growth-stock correction
- The base was the Fed continuing to cut to support the economy — the policy rate was at its lowest in decades
- From the second half, employment and consumption data improved and the recovery was confirmed
- When rates are low, deposit interest becomes uninteresting and money moves into shares
- The old high returned on 24 November, and the move led into the late-1990s tech bull market
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.