Nasdaq · August 23, 2011
The week the central bank looked ready again
+4.29%
single-day change vs previous close
Part of a longer stretch
Five months around a downgrade
near the end of it · 2011-04-29 → 2011-10-03, -18.71% over the whole period
What happened that day?
- The Nasdaq rose 4.29% to close at 2,446.06. No single trigger for the day could be pinned down
- Two things shook the market that summer: a downgrade of the American credit rating, and government-debt trouble across several European countries
- That week, expectations spread that a central bank gathering over the weekend would bring more stimulus
- A day that rises on expectation gives it back if the announcement falls short. This bounce did not last
- The episode fell 18.71% from the April high to the October low. This is a bounce inside it
- The low was six weeks away, on 3 October
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 put together from the public record; where a specific source was consulted it is listed above.