{
  "id": 7542152,
  "title": "The striking thing is how late the market moved",
  "url": "https://urgent.news/2026/09/15/the-striking-thing-is-how-late-the-market-moved",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-15T11:18:36.000Z",
  "source": {
    "name": "Marginal Revolution",
    "slug": "marginal-revolution",
    "url": "https://marginalrevolution.com/marginalrevolution/2026/09/the-striking-thing-is-how-late-the-market-moved.html"
  },
  "original_language": "en",
  "account": "According to the wire material, the S&P 500 experienced a significant market decline. The key COVID and policy events are marked on the chart, with the numbered key provided below. The market peaked at an all-time high of 3,386 on February 19, just before the outbreak in Italy. The first major selloff in the US occurred on February 24.\n\nThe Fed conducted an emergency 50 basis points cut on March 3. By March 11, the WHO declared the pandemic, leading to a travel ban in Europe and a suspension of the NBA season. On March 13, the US declared a national emergency.\n\nThe market reached its lowest point on March 15-16, marking the worst day since 1987, with a decline of 12%. The Fed responded by cutting interest rates to zero and restarting quantitative easing (QE). The bottom of the market was reached at 2,237.\n\nThe CARES Act was signed on March 27. In April, there were 6.6 million initial jobless claims filed in one week, and the unemployment rate reached 14.7%. The market's worst drawdown, a 34% drop, took 23 trading days to occur. The market bottom coincided with the Fed's announcement of unlimited QE, rather than any improvement in the epidemiological situation, which continued to worsen through April.",
  "summary": "Here’s the S&P 500 (daily close) with the key COVID and policy events marked; the numbered key is below the chart. Event key: Dec 31 – China reports the Wuhan pneumonia cluster to the WHO Jan 21 – First confirmed US case (Washington state) Jan 23 – Wuhan locked down Jan 30 – WHO declares […] The post The striking thing is how late the market moved appeared first on Marginal REVOLUTION .",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}