Nasdaq · January 7, 1981
Rates that did not budge in the new year
-3.29%
single-day change vs previous close
What happened that day?
- On 7 January 1981 the Nasdaq fell 3.29%
- The high-rate period that began in December carried straight into the new year
- High rates make it hard to borrow and grow, and smaller companies feel that first
- The Nasdaq is full of such companies, so the index was held down harder
- No single trigger can be pinned to this day
- In this stretch it was 9.32% below its peak
- From that summer the US entered a full recession
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.