Nasdaq · January 11, 2001
Expecting more cuts to come
+4.61%
single-day change vs previous close
Part of a longer stretch
Nine months down without a rest
near the end of it · 2000-07-17 → 2001-04-04, -61.66% over the whole period
What happened that day?
- The Nasdaq rose 4.61% on the day
- After the surprise cut at the start of January, another was widely expected at the meeting later that month
- There was no single announcement that day; expectation of more cuts had simply built over several sessions
- The market swung widely in this period, reacting hard to each piece of news without settling on a direction
- The Fed did cut again at the end of January, and eleven times that year in all
- The Nasdaq nevertheless fell further into early April, because this was not a problem rates could solve
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.