S&P 500 · February 24, 2009
A bounce two weeks from the bottom
+4.01%
single-day change vs previous close
Part of a longer stretch
The Global Financial Crisis bear market
near the end of it · 2007-10-09 → 2009-03-09, -56.78% over the whole period
What happened that day?
- On 24 February 2009 the S&P 500 rose 4.01%
- What the market feared most was nationalisation of the banks, which would wipe out existing shares
- That day the Fed chair told Congress that nationalisation was not the plan
- With one worst case removed, bank shares jumped hard
- The index's real bottom still came two weeks later, on 9 March
- No single trigger can be pinned to this day
- In this stretch the index was 32.73% 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.