Nasdaq · November 30, 2022
The day he said the pace would slow
+4.41%
single-day change vs previous close
Part of a longer stretch
The 2021–22 tech bear market
near the end of it · 2021-11-19 → 2022-12-28, -36.40% over the whole period
What happened that day?
- On 30 November 2022 the Nasdaq rose 4.41%
- In a lecture at a research institution, the Fed chair said it made sense to slow the pace of hikes from December
- A month earlier the same person had called a pause premature, so the shift carried weight
- The Fed did step down to two-step rises at the December meeting
- In the same lecture he also said rates would stay high for longer. The market heard only the first part
- 2022 was a year of hearing the part it wanted, checking again, and taking it back
- In this stretch the index was 22.2% below its peak
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.