S&P 500 · March 28, 2013
After 'whatever it takes'
+42.75%
trough back to the old high
372 trading days · 2011-10-03 → 2013-03-28
What happened that day?
- From the low on 3 October 2011 to the high on 28 March 2013, the S&P 500 rose 42.75% over 372 trading days
- In July 2012 the head of the European Central Bank said he would do whatever it took to preserve the euro
- It was one sentence, and Italian and Spanish yields fell immediately — before any money was spent
- Once a central bank commits, the market stops taking the other side. That was the power of the phrase
- In the US, a third round of quantitative easing began that September, this time with no end date
- In March 2013 the index passed its 2007 high, back to pre-crisis levels
- Four years from the low to here
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.