What happened to the market in August 2011?
By market close, the Dow Jones Industrial Average lost 634.76 points (-5.55%) to close at 10,809.85, making it the 6th largest drop of the index in history. Black Monday 2011 followed just one trading day behind the 10th largest drop of the Dow Jones Index, a 512.76 (-4.31%) drop on August 4, 2011.
What was the S&P in 2011?
1,267.64
S&P 500 – 10 Year Daily Chart
| S&P 500 Index – Historical Annual Data | ||
|---|---|---|
| Year | Average Closing Price | Annual % Change |
| 2011 | 1,267.64 | 0.00% |
| 2010 | 1,139.97 | 12.78% |
| 2009 | 948.05 | 23.45% |
What caused the 2011 stock market decline?
This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France’s current AAA rating, concerns over the slow economic growth of the United States and its credit rating being downgraded.
What caused the stock market correction in 2011?
What was happening economically in 2011?
Through the first three quarters of 2011, the U.S. economy expanded at a 1.2 percent annual rate. Government layoffs and budget cuts, particularly at the local level, slashed growth by about half a percentage point. On the positive side, meanwhile, the biggest driver of growth was an increase in personal consumption.
Why did the stock market fall in August 2011?
The ‘August 2011 stock markets fall’ was the sharp drop in stock prices in August 2011 in stock exchanges across the United States, Middle East, Europe and Asia. This was due to fears of contagion of the European sovereign debt crisis to Spain and Italy, as well as concerns over France’s current AAA rating,…
What was the US credit rating in August 2011?
Severe volatility of stock market indexes continued for the rest of the year. Standard & Poor’s downgraded America’s credit rating from AAA to AA+ on 6 August 2011 for the first time. The US had a AAA rating since 1941.
When was the last time the stock market hit new highs?
The correlation of stocks’ movement in the S&P 500 reached new highs in 2011, surpassing even levels seen after the October 1987 stock market crash. (See chart below.)
What was the CAC 40 in August 2011?
France: The CAC 40 fell by 20% in two weeks. It fell by 5.5% on 18 August 2011. The CAC thus moved from 3,800 points to 3,000 points in 10 days. The CAC 40 closed at 2999.54 on 5 September 2011 compared with 3982.21 on 30 June 2011 (and 4157 in February).