· Kk · 1 min read
GFC key dates in a table
A concise timeline of the S&P 500 during the Global Financial Crisis, from the October 2007 peak through the March 2009 low.
Key dates during the crisis
| Event | Approximate date | What happened |
|---|---|---|
| Initial peak | 2007-10-09 | S&P 500 reached 1,565.15, its pre-crisis high. |
| Bear market begins | Late Oct 2007 | A slow decline began after the peak. |
| Bear market confirmed | 2008-01-09 to 2008-03-17 | The index fell about 20%; the period included the Bear Stearns bailout. |
| Short-term bottom | 2008-03-17 | The index reached roughly 1,256 before a temporary rebound. |
| Bear-market rally | 2008-05-19 to 2008-06-05 | The index rallied to roughly 1,428 but did not recover its prior high. |
| Major leg down | 2008-09-15 | Lehman Brothers collapsed and markets fell rapidly. |
| Panic-selling bottom | 2008-11-20 | The index reached roughly 752, about 52% below the 2007 peak. |
| Relief rally | 2008-12-08 to 2009-01-06 | A short-term bounce carried the index to approximately 935. |
| Final leg down | 2009-01-06 to 2009-03-09 | The decline continued to a new cycle low. |
| GFC bottom | 2009-03-09 | Lowest close: 676.53. A long-term recovery began afterward. |
Market phases
| Phase | Start | End | S&P 500 change |
|---|---|---|---|
| Initial peak to first bottom | 2007-10-09 | 2008-03-17 | ↓ ~20% |
| Bear rally | 2008-03-17 | 2008-05-19 | ↑ ~13% |
| Second drop | 2008-05-19 | 2008-11-20 | ↓ ~47% |
| Short rally | 2008-11-20 | 2009-01-06 | ↑ ~25% |
| Final leg down | 2009-01-06 | 2009-03-09 | ↓ ~28% |
