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| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
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| +0.00 | -0.05 | -0.15 | -0.10 | -0.05 | -0.10 | -0.10 | -0.15 | -0.21 | -0.30 | -0.25 | -0.19 |
Enron implosion begins
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The New York Stock Exchange reopened on September 17, 2001 after a four-day shutdown, its longest closure since 1933, and the Dow Jones Industrial Average fell 684.81 points, about 7.1%, its largest one-day point loss ever at the time, closing below 9,000. Over the reopening week the Dow lost roughly 14% and about $1.4 trillion in market value evaporated. The Federal Reserve cut its benchmark rate by half a point that morning to steady the financial system.
On December 2, 2001 Enron, a Houston energy-trading firm ranked seventh on the Fortune 500, filed for Chapter 11 with about $63.4 billion in assets, then the largest corporate bankruptcy in US history. The collapse followed disclosures that it had concealed billions in debt and inflated profits through off-balance-sheet partnerships, and its shares fell from over $90 in 2000 to under $1, erasing roughly $60 billion in market value and about $2 billion in employee pensions. The scandal destroyed auditor Arthur Andersen and spurred the 2002 Sarbanes-Oxley Act.