Nasdaq · November 13, 2007

Between the write-downs and the till (Nasdaq)

+3.46%

single-day change vs previous close

Part of a longer stretch

A halving that took seventeen months

early in it · 2007-10-31 → 2009-03-09, -55.63% over the whole period

What happened that day?

13 November 2007 — the Nasdaq rose 3.46% to close at 2,673.65. No single cause can be pinned to the day
The index had been sliding through November. Retail results reading better than expected was mentioned as the background
The market was moving between two kinds of news: the loss figures banks were writing on housing loans, and readings that consumers were still spending
Expectations of further Fed cuts kept pushing the price up as well
But bounces like this lasted a day or two. The next two sessions fell again
From late October to 10 March 2008 the index fell 24.13% over this episode
The Fed did in fact take rates to near zero over that year and the next

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 put together from the public record; where a specific source was consulted it is listed above.