S&P 500 · September 2, 1997
Undoing the summer dip
+3.13%
single-day change vs previous close
What happened that day?
- On 2 September 1997 the S&P 500 rose 3.13%
- The index had been held down through August. Thin summer trading makes swings larger
- The US economy was growing with prices stable — the conditions stocks like
- A currency crisis had already begun in Asia, but the US market still treated it as somebody else's problem
- No single trigger can be pinned to this day
- The summer dip had been 8.68% from the peak
- Two months later the Asian crisis reached the US
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.