The Bull Market Turns Eight

Eight years ago today, the stock market reached its intra-day low. The S&P 500 traded as low as 666.79. That was its lowest since 1996.

The market was actually up that day, which was a Friday. What was the big news? The unemployment rate climbed to a 25-year high, and nonfarm payrolls came in at 651K. The closing low came the following Monday, March 9.

The bear market was so steep that the Dow had erased all of its inflation-adjusted gains for the previous 41 years. The black line is the Dow divided by the consumer price index. The blue line shows you the 1966 high and the 2009 low.

Posted by on March 6th, 2017 at 4:06 pm


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