Nasdaq · March 9, 2021
Yields settled and it came straight back
+3.69%
single-day change vs previous close
What happened that day?
- On 9 March 2021 the Nasdaq rose 3.69%
- Treasury yields had been climbing fast since late February, pushing technology down day after day
- That day yields settled. Once the climb paused, everything that had been held down came back at once
- A large stimulus package was moving through Congress at the same time
- Stimulus cuts both ways. It supports the economy but pushes prices and rates up, which works against technology
- So in this period the Nasdaq swung hard on the movement of a single yield
- This pullback was 10.54% from the 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.