Nasdaq · February 27, 2007

A worldwide fall that started in Shanghai

-3.86%

single-day change vs previous close

Part of a longer stretch

Fifteen months that ran right up to the crisis

midway through · 2006-07-21 → 2007-10-31, +41.51% over the whole period

What happened that day?

The Nasdaq fell 3.86% on the day, the largest single-day drop of this advance
Shanghai shares fell hard in one session on expectations of a crackdown on speculation. The shock travelled through Europe to the US
Foreigners could barely access the Chinese market at the time. That the world fell together anyway was a matter of sentiment
The same day a former Fed chair spoke of a possible recession, and US durable goods orders came in weak
It was a day of several things at once. No single one of them would have done this much
The index recovered within two months, but it was a trailer for how quickly prices could break together

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.