S&P 500 · July 7, 1986
The record broken again six months later
-3.07%
single-day change vs previous close
What happened that day?
- On 7 July 1986 the S&P 500 fell 3.07%, breaking the point-drop record set in January just six months earlier
- Again, no single piece of bad news explained it
- Program trading was blamed once more — computers selling in size when conditions were met
- A collapse in oil prices and a weaker dollar sat underneath it, squeezing energy company profits
- That the record fell twice in six months says something about the market of that period. Daily swings were getting larger
- Where that led was Black Monday in October the following year
- From the peak the index was down 9.02%
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.