Nasdaq · August 24, 2001
Three days after the rate cut
+4.01%
single-day change vs previous close
Part of a longer stretch
A summer slide and a September shock
near the end of it · 2001-05-22 → 2001-09-21, -38.49% over the whole period
What happened that day?
- 24 August 2001 — the Nasdaq rose 4.01%. No single cause for that one day could be pinned down
- Three days earlier the Fed had cut again — its seventh cut of the year
- Cheaper money is good for stocks. In this stretch, though, prices kept falling anyway
- Technology revenue was genuinely shrinking. Cheap money does not help when there is nothing to sell
- The bounce did not last. After the 11 September attacks the index fell further, to its low on 21 September
- From the May high to the September low the index fell 38.49%
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.