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1. Shard Calculation

Query:

Response:

Calculated Shard: 152 (from laksa135)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa152.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/2022_stock_market_decline\')), getAhrefsUnparsedNoserviceFromURL(\'https://en.wikipedia.org/wiki/2022_stock_market_decline\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline","crawl_time":1774677168,"first_indexed_time":1655955345,"http_code":200,"src_unparsed":"org,wikipedia!en,\/wiki\/2022_stock_market_decline s443","src_root_hash":"17790707453426894952","history_drop_reason":null,"meta_title":"2022 stock market decline - Wikipedia","meta_descriptions":[],"attrs_boilerpipe_text":"From Wikipedia, the free encyclopedia\nDow Jones Industrial Average\n(1970–2023)\nNasdaq Composite Index\n(1980–2023)\nS&P 500\n(1970–2023)\nThe\n2022 stock market decline\nwas a\nbear market\nthat included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the\n2021–2023 inflation surge\nand the resulting increases in interest rates, combined with the worst year for the bond market since\n1994\nwith fears of a global\nrecession\ndue to a decline in\neconomic indicators\nand an\ninverted yield curve\n, exacerbated by\nsupply chain\ndisruptions due to the\nRussian invasion of Ukraine\nand uncertainty over the long-term effects of the\nCOVID-19 pandemic\non the economy.\n[\n1\n]\n[\n2\n]\nIn 2021 many\ncentral banks\nundertook a\nzero interest rate policy\n, assuming the rise in inflation to be \"temporary\" or \"transitory\". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The\nFederal Reserve\nraised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s.\n[\n3\n]\nIt also reintroduced a policy of\nquantitative tightening\nin June 2022.\n[\n4\n]\nThe\nEuropean Central Bank\nraised rates 10 consecutive times during the same period.\n[\n5\n]\nIn the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the\nCOVID-19 recession\n; decreasing at an annual rate of 1.0% in the first quarter of 2022.\n[\n6\n]\nGDP growth rates in the European Union also slowed significantly in the first half of 2022.\n[\n7\n]\nBut the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the\nAI boom\n, predictions of lower or stable interest rates, and predictions of a\nsoft landing\n.\n[\n8\n]\nBy 2023 and 2024, many stock market indices reached all-time highs.\n[\n9\n]\nStock market performance\n[\nedit\n]\nIn 2022 the\nMSCI World\nIndex index, which tracks\ndeveloped markets\n, was down 17.7%. The\nemerging markets\nindex declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea.\n[\n10\n]\nThe\nS&P 500\npeaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022.\n[\n11\n]\n[\n12\n]\nIn the first 6 months of 2022, the S&P 500 fell 21%, the worst 6-month start to a year since 1970.\n[\n13\n]\n[\n14\n]\nOn September 13, 2022, the S&P 500 declined by 4.32% in its largest single-day drop since June 2020.\n[\n15\n]\n[\n16\n]\nThe S&P 500 had the worst results since 2008, with a decline of 19% for the year.\n[\n17\n]\nThe Nasdaq Composite fell 33%.\n[\n18\n]\nStocks in Europe outperformed on the year due to lower valuations. The\nSTOXX Europe 600\nlost 12% on the year, the\nDAX\nlost 12.5%, and the\nCAC 40\nlost 9.5%.\n[\n18\n]\nThe\nNikkei 225\nstarted the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%.\n[\n19\n]\nHowever, by 2024, it hit all time highs.\n[\n20\n]\nBy November 2022 the\nHang Seng Index\nwas down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when\nXi Jinping\nwon a third tenure of the\ngeneral secretaryship\n, and investors feared that he would prioritize state-owned firms over private companies.\n[\n21\n]\nThe decline was also due to concerns over the economic effects of\nXi Jinping\n's\nZero-COVID\nstrategy and its regulatory crackdown and fines on companies such as\nAnt Group\n.\n[\n22\n]\nCryptocurrency performance\n[\nedit\n]\nAs part of the global decline in most risky assets, the price of\nBitcoin\nfell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in\nThe Wall Street Journal\npublished that month was titled \"The Crypto Party Is Over\".\n[\n23\n]\nHowever, by 2024, many cryptocurrencies reached all-time highs.\n^\nVega, Nicolas (June 14, 2022).\n\"Stocks have officially entered bear market territory—here's what that means and what you should do\"\n.\nCNBC\n.\n^\nToews, Phillip (March 14, 2022).\n\"Opinion: Ukraine War Likely Has Triggered Lasting Bear Market\"\n.\nBarron's\n.\n^\nRodini, Laura (April 12, 2024).\n\"A timeline of the Fed's '22–'23 rate hikes & what caused them\"\n.\nTheStreet.com\n.\n^\nCordes, Lucy; Ferris, Erin (June 14, 2024).\n\"Who Buys Treasuries When the Fed Reduces its Holdings\"\n.\nFederal Reserve\n.\n^\nReid, Jenni (October 26, 2023).\n\"European Central Bank holds interest rates steady after 10 consecutive hikes\"\n.\nCNBC\n.\n^\n\"Real Gross Domestic Product\"\n.\n^\n\"GDP up by 0.7% in the euro area and by 0.6% in the EU\"\n.\nEurostat\n. July 29, 2022.\n^\nErmey, Ryan (December 20, 2022).\n\"Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money\"\n.\nCNBC\n.\n^\nJohn, Alun (February 22, 2024).\n\"European shares hit all-time highs, global momentum builds\"\n.\nReuters\n.\n^\nVirgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023).\n\"Markets in Focus: Investors Look to Capture Big Market Shifts\"\n.\nMSCI\n.\n^\nRandewich, Noel; Cherian, Johann M. (January 20, 2024).\n\"S&P 500 notches first record high close in 2 years; chipmakers soar\"\n.\nReuters\n.\n^\n\"The S&P 500 is in a bull market. Here's what that means and how long the bull might run\"\n.\nAssociated Press\n. June 8, 2023.\n^\nMelgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022).\n\"See just how bad a year it was for your retirement account — and why\"\n.\nThe Washington Post\n.\n^\nSimonetti, Isabella (June 30, 2022).\n\"After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market\"\n.\nThe New York Times\n.\n^\nRennison, Joe (September 13, 2022).\n\"Markets Plunge as Inflation Data Undercuts Wall Street's Optimism\"\n.\nThe New York Times\n.\n^\nHalpert, Madeline (September 13, 2022).\n\"S&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High\"\n.\nForbes\n.\n^\nPound, Jesse; Subin, Samantha (December 30, 2022).\n\"Stocks fall to end Wall Street's worst year since 2008, S&P 500 finishes 2022 down nearly 20%\"\n.\nCNBC\n.\n^\na\nb\n\"Wall Street, European stock markets close 2022 with big losses\"\n.\nDaily Sabah\n.\nIstanbul\n. December 30, 2022.\n^\nYamaguchi, Yuki (December 30, 2022).\n\"Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years\"\n.\nKyodo News\n.\n^\n\"Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains\"\n.\nThe Japan Times\n.\nReuters\n. July 11, 2024.\n^\n\"Why Did Chinese Stocks Drop Some 13% In October 2022?\"\n.\nForbes\n. November 20, 2022.\n^\nZhu, Julie (November 22, 2022).\n\"China set to fine Ant Group over $1 bln, signalling revamp nears end-sources\"\n.\nReuters\n.\n^\nDriebusch, Corrie; Vigna, Paul (June 18, 2022).\n\"The Crypto Party Is Over\"\n.\nThe Wall Street Journal\n.\nISSN\n \n0099-9660\n.","attrs_markdown":"[Jump to content](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#bodyContent)\n\nMain menu\n\nMain menu\n\nmove to sidebar\n\nhide\n\nNavigation\n\n- [Main page](https:\/\/en.wikipedia.org\/wiki\/Main_Page \"Visit the main page [z]\")\n- [Contents](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contents \"Guides to browsing Wikipedia\")\n- [Current events](https:\/\/en.wikipedia.org\/wiki\/Portal:Current_events \"Articles related to current events\")\n- [Random article](https:\/\/en.wikipedia.org\/wiki\/Special:Random \"Visit a randomly selected article [x]\")\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About \"Learn about Wikipedia and how it works\")\n- [Contact us](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us \"How to contact Wikipedia\")\n\nContribute\n\n- [Help](https:\/\/en.wikipedia.org\/wiki\/Help:Contents \"Guidance on how to use and edit Wikipedia\")\n- [Learn to edit](https:\/\/en.wikipedia.org\/wiki\/Help:Introduction \"Learn how to edit Wikipedia\")\n- [Community portal](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Community_portal \"The hub for editors\")\n- [Recent changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChanges \"A list of recent changes to Wikipedia [r]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_upload_wizard \"Add images or other media for use on Wikipedia\")\n- [Special pages](https:\/\/en.wikipedia.org\/wiki\/Special:SpecialPages \"A list of all special pages [q]\")\n\n[![](https:\/\/en.wikipedia.org\/static\/images\/icons\/enwiki-25.svg) ![Wikipedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-wordmark-en-25.svg) ![The Free Encyclopedia](https:\/\/en.wikipedia.org\/static\/images\/mobile\/copyright\/wikipedia-tagline-en-25.svg)](https:\/\/en.wikipedia.org\/wiki\/Main_Page)\n\n[Search](https:\/\/en.wikipedia.org\/wiki\/Special:Search \"Search Wikipedia [f]\")\n\nAppearance\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=2022+stock+market+decline \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=2022+stock+market+decline \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\nPersonal tools\n\n- [Donate](https:\/\/donate.wikimedia.org\/?wmf_source=donate&wmf_medium=sidebar&wmf_campaign=en.wikipedia.org&uselang=en)\n- [Create account](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CreateAccount&returnto=2022+stock+market+decline \"You are encouraged to create an account and log in; however, it is not mandatory\")\n- [Log in](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UserLogin&returnto=2022+stock+market+decline \"You're encouraged to log in; however, it's not mandatory. [o]\")\n\n## Contents\nmove to sidebar\n\nhide\n\n- [(Top)](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline)\n- [1 Stock market performance](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#Stock_market_performance)\n  Toggle Stock market performance subsection\n  - [1\\.1 United States](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#United_States)\n  - [1\\.2 Europe](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#Europe)\n  - [1\\.3 Japan](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#Japan)\n  - [1\\.4 China](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#China)\n- [2 Cryptocurrency performance](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#Cryptocurrency_performance)\n- [3 References](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#References)\n\nToggle the table of contents\n\n# 2022 stock market decline\nAdd languages\n\n[Add links](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q112968291#sitelinks-wikipedia \"Add interlanguage links\")\n\n- [Article](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline \"View the content page [c]\")\n- [Talk](https:\/\/en.wikipedia.org\/wiki\/Talk:2022_stock_market_decline \"Discuss improvements to the content page [t]\")\n\nEnglish\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=history \"Past revisions of this page [h]\")\n\nTools\n\nTools\n\nmove to sidebar\n\nhide\n\nActions\n\n- [Read](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline)\n- [Edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit \"Edit this page [e]\")\n- [View history](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=history)\n\nGeneral\n\n- [What links here](https:\/\/en.wikipedia.org\/wiki\/Special:WhatLinksHere\/2022_stock_market_decline \"List of all English Wikipedia pages containing links to this page [j]\")\n- [Related changes](https:\/\/en.wikipedia.org\/wiki\/Special:RecentChangesLinked\/2022_stock_market_decline \"Recent changes in pages linked from this page [k]\")\n- [Upload file](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:File_Upload_Wizard \"Upload files [u]\")\n- [Permanent link](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&oldid=1335863238 \"Permanent link to this revision of this page\")\n- [Page information](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=info \"More information about this page\")\n- [Cite this page](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:CiteThisPage&page=2022_stock_market_decline&id=1335863238&wpFormIdentifier=titleform \"Information on how to cite this page\")\n- [Get shortened URL](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2F2022_stock_market_decline)\n\nPrint\/export\n\n- [Download as PDF](https:\/\/en.wikipedia.org\/w\/index.php?title=Special:DownloadAsPdf&page=2022_stock_market_decline&action=show-download-screen \"Download this page as a PDF file\")\n- [Printable version](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&printable=yes \"Printable version of this page [p]\")\n\nIn other projects\n\n- [Wikidata item](https:\/\/www.wikidata.org\/wiki\/Special:EntityPage\/Q112968291 \"Structured data on this page hosted by Wikidata [g]\")\n\nAppearance\n\nmove to sidebar\n\nhide\n\nFrom Wikipedia, the free encyclopedia\n\nWorldwide economic event\n\n|   |   |\n|---|---|\n| ![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/1\/17\/System-search.svg\/60px-System-search.svg.png) | This title's **factual accuracy is [disputed](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Accuracy_dispute \"Wikipedia:Accuracy dispute\")**. Relevant discussion may be found on [Talk:2022 stock market decline](https:\/\/en.wikipedia.org\/wiki\/Talk:2022_stock_market_decline#Rename_to_'2022_Stock_Market_Dip' \"Talk:2022 stock market decline\"). Please help to ensure that disputed statements are [reliably sourced](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Reliable_sources \"Wikipedia:Reliable sources\"). *(July 2024)* *([Learn how and when to remove this message](https:\/\/en.wikipedia.org\/wiki\/Help:Maintenance_template_removal \"Help:Maintenance template removal\"))* |\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/f\/f5\/Dow_Jones_Industrial_Average.webp\/330px-Dow_Jones_Industrial_Average.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:Dow_Jones_Industrial_Average.webp)\n\n[Dow Jones Industrial Average](https:\/\/en.wikipedia.org\/wiki\/Dow_Jones_Industrial_Average \"Dow Jones Industrial Average\") (1970–2023)\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/8\/80\/NASDAQ_Composite_Index.webp\/330px-NASDAQ_Composite_Index.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:NASDAQ_Composite_Index.webp)\n\n[Nasdaq Composite Index](https:\/\/en.wikipedia.org\/wiki\/Nasdaq_Composite_Index \"Nasdaq Composite Index\") (1980–2023)\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/f\/ff\/S_%26_P_500.webp\/330px-S_%26_P_500.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:S_%26_P_500.webp)\n\n[S\\&P 500](https:\/\/en.wikipedia.org\/wiki\/S%26P_500 \"S&P 500\") (1970–2023)\n\nThe **2022 stock market decline** was a [bear market](https:\/\/en.wikipedia.org\/wiki\/Bear_market \"Bear market\") that included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the [2021–2023 inflation surge](https:\/\/en.wikipedia.org\/wiki\/2021%E2%80%932023_inflation_surge \"2021–2023 inflation surge\") and the resulting increases in interest rates, combined with the worst year for the bond market since  [1994](https:\/\/en.wikipedia.org\/wiki\/1994_bond_market_crisis \"1994 bond market crisis\") with fears of a global [recession](https:\/\/en.wikipedia.org\/wiki\/Recession \"Recession\") due to a decline in [economic indicators](https:\/\/en.wikipedia.org\/wiki\/Economic_indicator \"Economic indicator\") and an [inverted yield curve](https:\/\/en.wikipedia.org\/wiki\/Inverted_yield_curve \"Inverted yield curve\"), exacerbated by [supply chain](https:\/\/en.wikipedia.org\/wiki\/Supply_chain \"Supply chain\") disruptions due to the [Russian invasion of Ukraine](https:\/\/en.wikipedia.org\/wiki\/Russian_invasion_of_Ukraine \"Russian invasion of Ukraine\") and uncertainty over the long-term effects of the [COVID-19 pandemic](https:\/\/en.wikipedia.org\/wiki\/COVID-19_pandemic \"COVID-19 pandemic\") on the economy.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-1)[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-2)\n\nIn 2021 many [central banks](https:\/\/en.wikipedia.org\/wiki\/Central_bank \"Central bank\") undertook a [zero interest rate policy](https:\/\/en.wikipedia.org\/wiki\/Zero_interest_rate_policy \"Zero interest rate policy\"), assuming the rise in inflation to be \"temporary\" or \"transitory\". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The [Federal Reserve](https:\/\/en.wikipedia.org\/wiki\/Federal_Reserve \"Federal Reserve\") raised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-3) It also reintroduced a policy of [quantitative tightening](https:\/\/en.wikipedia.org\/wiki\/Quantitative_tightening \"Quantitative tightening\") in June 2022.[\\[4\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-4) The [European Central Bank](https:\/\/en.wikipedia.org\/wiki\/European_Central_Bank \"European Central Bank\") raised rates 10 consecutive times during the same period.[\\[5\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-5)\n\nIn the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the [COVID-19 recession](https:\/\/en.wikipedia.org\/wiki\/COVID-19_recession \"COVID-19 recession\"); decreasing at an annual rate of 1.0% in the first quarter of 2022.[\\[6\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-6) GDP growth rates in the European Union also slowed significantly in the first half of 2022.[\\[7\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-7)\n\nBut the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the [AI boom](https:\/\/en.wikipedia.org\/wiki\/AI_boom \"AI boom\"), predictions of lower or stable interest rates, and predictions of a [soft landing](https:\/\/en.wikipedia.org\/wiki\/Soft_landing_\$economics\$ \"Soft landing (economics)\").[\\[8\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-8) By 2023 and 2024, many stock market indices reached all-time highs.[\\[9\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-9)\n\n## Stock market performance\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=1 \"Edit section: Stock market performance\")\\]\n\nIn 2022 the [MSCI World](https:\/\/en.wikipedia.org\/wiki\/MSCI_World \"MSCI World\") Index index, which tracks [developed markets](https:\/\/en.wikipedia.org\/wiki\/Developed_market \"Developed market\"), was down 17.7%. The [emerging markets](https:\/\/en.wikipedia.org\/wiki\/Emerging_market \"Emerging market\") index declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea.[\\[10\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-10)\n\n### United States\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=2 \"Edit section: United States\")\\]\n\nThe [S\\&P 500](https:\/\/en.wikipedia.org\/wiki\/S%26P_500 \"S&P 500\") peaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022.[\\[11\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-11)[\\[12\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-12)\n\nIn the first 6 months of 2022, the S\\&P 500 fell 21%, the worst 6-month start to a year since 1970.[\\[13\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-13)[\\[14\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-14)\n\nOn September 13, 2022, the S\\&P 500 declined by 4.32% in its largest single-day drop since June 2020.[\\[15\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-15)[\\[16\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-16)\n\nThe S\\&P 500 had the worst results since 2008, with a decline of 19% for the year.[\\[17\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-17) The Nasdaq Composite fell 33%.[\\[18\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-losses-18)\n\n### Europe\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=3 \"Edit section: Europe\")\\]\n\nStocks in Europe outperformed on the year due to lower valuations. The [STOXX Europe 600](https:\/\/en.wikipedia.org\/wiki\/STOXX_Europe_600 \"STOXX Europe 600\") lost 12% on the year, the [DAX](https:\/\/en.wikipedia.org\/wiki\/DAX \"DAX\") lost 12.5%, and the [CAC 40](https:\/\/en.wikipedia.org\/wiki\/CAC_40 \"CAC 40\") lost 9.5%.[\\[18\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-losses-18)\n\n### Japan\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=4 \"Edit section: Japan\")\\]\n\nThe [Nikkei 225](https:\/\/en.wikipedia.org\/wiki\/Nikkei_225 \"Nikkei 225\") started the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%.[\\[19\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-19) However, by 2024, it hit all time highs.[\\[20\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-20)\n\n### China\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=5 \"Edit section: China\")\\]\n\nBy November 2022 the [Hang Seng Index](https:\/\/en.wikipedia.org\/wiki\/Hang_Seng_Index \"Hang Seng Index\") was down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when [Xi Jinping](https:\/\/en.wikipedia.org\/wiki\/Xi_Jinping \"Xi Jinping\") won a third tenure of the [general secretaryship](https:\/\/en.wikipedia.org\/wiki\/General_secretaryship_of_Xi_Jinping \"General secretaryship of Xi Jinping\"), and investors feared that he would prioritize state-owned firms over private companies.[\\[21\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-21) The decline was also due to concerns over the economic effects of [Xi Jinping](https:\/\/en.wikipedia.org\/wiki\/Xi_Jinping \"Xi Jinping\")'s [Zero-COVID](https:\/\/en.wikipedia.org\/wiki\/Zero-COVID \"Zero-COVID\") strategy and its regulatory crackdown and fines on companies such as [Ant Group](https:\/\/en.wikipedia.org\/wiki\/Ant_Group \"Ant Group\").[\\[22\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-22)\n\n## Cryptocurrency performance\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=6 \"Edit section: Cryptocurrency performance\")\\]\n\nSee also: [Cryptocurrency bubble](https:\/\/en.wikipedia.org\/wiki\/Cryptocurrency_bubble \"Cryptocurrency bubble\")\n\nAs part of the global decline in most risky assets, the price of [Bitcoin](https:\/\/en.wikipedia.org\/wiki\/Bitcoin \"Bitcoin\") fell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in *[The Wall Street Journal](https:\/\/en.wikipedia.org\/wiki\/The_Wall_Street_Journal \"The Wall Street Journal\")* published that month was titled \"The Crypto Party Is Over\".[\\[23\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-23) However, by 2024, many cryptocurrencies reached all-time highs.\n\n## References\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=7 \"Edit section: References\")\\]\n\n1. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-1)**\n   Vega, Nicolas (June 14, 2022). [\"Stocks have officially entered bear market territory—here's what that means and what you should do\"](https:\/\/www.cnbc.com\/2022\/06\/14\/what-experts-say-to-do-during-a-bear-market.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-2)**\n   Toews, Phillip (March 14, 2022). [\"Opinion: Ukraine War Likely Has Triggered Lasting Bear Market\"](https:\/\/www.barrons.com\/advisor\/articles\/opinion-ukraine-war-bear-stock-market-51647285190). *[Barron's](https:\/\/en.wikipedia.org\/wiki\/Barron%27s \"Barron's\")*.\n3. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-3)**\n   Rodini, Laura (April 12, 2024). [\"A timeline of the Fed's '22–'23 rate hikes & what caused them\"](https:\/\/www.thestreet.com\/fed\/fed-rate-hikes-2022-2023-timeline-discussion). *[TheStreet.com](https:\/\/en.wikipedia.org\/wiki\/TheStreet.com \"TheStreet.com\")*.\n4. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-4)**\n   Cordes, Lucy; Ferris, Erin (June 14, 2024). [\"Who Buys Treasuries When the Fed Reduces its Holdings\"](https:\/\/www.federalreserve.gov\/econres\/notes\/feds-notes\/who-buys-treasuries-when-the-fed-reduces-its-holdings-20240614.html). *[Federal Reserve](https:\/\/en.wikipedia.org\/wiki\/Federal_Reserve \"Federal Reserve\")*.\n5. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-5)**\n   Reid, Jenni (October 26, 2023). [\"European Central Bank holds interest rates steady after 10 consecutive hikes\"](https:\/\/www.cnbc.com\/2023\/10\/26\/european-central-bank-holds-interest-rates-steady-after-10-consecutive-hikes.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n6. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-6)**\n   [\"Real Gross Domestic Product\"](https:\/\/fred.stlouisfed.org\/series\/A191RL1Q225SBEA).\n7. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-7)**\n   [\"GDP up by 0.7% in the euro area and by 0.6% in the EU\"](https:\/\/ec.europa.eu\/eurostat\/documents\/2995521\/14644653\/2-29072022-BP-EN.pdf\/76432e7c-62cf-653b-6998-195b19b897ee). *[Eurostat](https:\/\/en.wikipedia.org\/wiki\/Eurostat \"Eurostat\")*. July 29, 2022.\n8. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-8)**\n   Ermey, Ryan (December 20, 2022). [\"Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money\"](https:\/\/www.cnbc.com\/2022\/12\/20\/2023-market-outlook-what-soft-landing-could-mean-for-your-money.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n9. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-9)**\n   John, Alun (February 22, 2024). [\"European shares hit all-time highs, global momentum builds\"](https:\/\/www.reuters.com\/markets\/europe\/europes-stoxx-600-share-benchmark-hits-all-time-high-2024-02-22\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n10. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-10)**\n    Virgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023). [\"Markets in Focus: Investors Look to Capture Big Market Shifts\"](https:\/\/www.msci.com\/www\/blog-posts\/markets-in-focus-investors-look\/03573322038). *[MSCI](https:\/\/en.wikipedia.org\/wiki\/MSCI \"MSCI\")*.\n11. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-11)**\n    Randewich, Noel; Cherian, Johann M. (January 20, 2024). [\"S\\&P 500 notches first record high close in 2 years; chipmakers soar\"](https:\/\/www.reuters.com\/markets\/us\/futures-climb-chips-megacaps-gain-corporate-earnings-tap-2024-01-19\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n12. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-12)**\n    [\"The S\\&P 500 is in a bull market. Here's what that means and how long the bull might run\"](https:\/\/apnews.com\/article\/bull-stock-market-wall-street-cde5d042da6aa887e7d5ba64b62815ff). *[Associated Press](https:\/\/en.wikipedia.org\/wiki\/Associated_Press \"Associated Press\")*. June 8, 2023.\n13. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-13)**\n    Melgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022). [\"See just how bad a year it was for your retirement account — and why\"](https:\/\/www.washingtonpost.com\/business\/interactive\/2022\/stock-market-sp500-down-this-year\/). *[The Washington Post](https:\/\/en.wikipedia.org\/wiki\/The_Washington_Post \"The Washington Post\")*.\n14. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-14)**\n    Simonetti, Isabella (June 30, 2022). [\"After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market\"](https:\/\/www.nytimes.com\/2022\/06\/30\/business\/stock-market-worst-start-50-years.html). *[The New York Times](https:\/\/en.wikipedia.org\/wiki\/The_New_York_Times \"The New York Times\")*.\n15. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-15)**\n    Rennison, Joe (September 13, 2022). [\"Markets Plunge as Inflation Data Undercuts Wall Street's Optimism\"](https:\/\/www.nytimes.com\/2022\/09\/13\/business\/markets-inflation-stocks.html). *[The New York Times](https:\/\/en.wikipedia.org\/wiki\/The_New_York_Times \"The New York Times\")*.\n16. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-16)**\n    Halpert, Madeline (September 13, 2022). [\"S\\&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High\"](https:\/\/www.forbes.com\/sites\/madelinehalpert\/2022\/09\/13\/sp-500-faces-biggest-drop-this-year-as-inflation-remains-stubbornly-high\/). *[Forbes](https:\/\/en.wikipedia.org\/wiki\/Forbes \"Forbes\")*.\n17. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-17)**\n    Pound, Jesse; Subin, Samantha (December 30, 2022). [\"Stocks fall to end Wall Street's worst year since 2008, S\\&P 500 finishes 2022 down nearly 20%\"](https:\/\/www.cnbc.com\/2022\/12\/29\/stock-market-futures-open-to-close-news.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n18. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-losses_18-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-losses_18-1)\n    [\"Wall Street, European stock markets close 2022 with big losses\"](https:\/\/www.dailysabah.com\/business\/economy\/wall-street-european-stock-markets-close-2022-with-big-losses). *[Daily Sabah](https:\/\/en.wikipedia.org\/wiki\/Daily_Sabah \"Daily Sabah\")*. [Istanbul](https:\/\/en.wikipedia.org\/wiki\/Istanbul \"Istanbul\"). December 30, 2022.\n19. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-19)**\n    Yamaguchi, Yuki (December 30, 2022). [\"Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years\"](https:\/\/english.kyodonews.net\/news\/2022\/12\/6eba1018af37-update1-japans-nikkei-index-drops-9-in-2022-for-1st-yearly-fall-in-4-years.html). *[Kyodo News](https:\/\/en.wikipedia.org\/wiki\/Kyodo_News \"Kyodo News\")*.\n20. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-20)**\n    [\"Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains\"](https:\/\/www.japantimes.co.jp\/business\/2024\/07\/11\/markets\/nikkei-another-record-high\/). *[The Japan Times](https:\/\/en.wikipedia.org\/wiki\/The_Japan_Times \"The Japan Times\")*. [Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\"). July 11, 2024.\n21. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-21)**\n    [\"Why Did Chinese Stocks Drop Some 13% In October 2022?\"](https:\/\/www.forbes.com\/sites\/qai\/2022\/11\/20\/why-did-chinese-stocks-drop-some-13-in-october-2022\/). *[Forbes](https:\/\/en.wikipedia.org\/wiki\/Forbes \"Forbes\")*. November 20, 2022.\n22. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-22)**\n    Zhu, Julie (November 22, 2022). [\"China set to fine Ant Group over \\$1 bln, signalling revamp nears end-sources\"](https:\/\/www.reuters.com\/business\/exclusive-china-set-fine-ant-group-over-1-bln-signalling-revamp-nears-end-2022-11-22\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n23. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-23)**\n    Driebusch, Corrie; Vigna, Paul (June 18, 2022). [\"The Crypto Party Is Over\"](https:\/\/www.wsj.com\/articles\/the-crypto-party-is-over-11655524807). *[The Wall Street Journal](https:\/\/en.wikipedia.org\/wiki\/The_Wall_Street_Journal \"The Wall Street Journal\")*. [ISSN](https:\/\/en.wikipedia.org\/wiki\/ISSN_\$identifier\$ \"ISSN (identifier)\") [0099-9660](https:\/\/search.worldcat.org\/issn\/0099-9660).\n\n| [v](https:\/\/en.wikipedia.org\/wiki\/Template:Financial_crises \"Template:Financial crises\") [t](https:\/\/en.wikipedia.org\/wiki\/Template_talk:Financial_crises \"Template talk:Financial crises\") [e](https:\/\/en.wikipedia.org\/wiki\/Special:EditPage\/Template:Financial_crises \"Special:EditPage\/Template:Financial crises\")[Financial crises](https:\/\/en.wikipedia.org\/wiki\/Financial_crisis \"Financial crisis\") |   |\n|---|---|\n| [Bank run](https:\/\/en.wikipedia.org\/wiki\/Bank_run \"Bank run\") [Commodity price shocks](https:\/\/en.wikipedia.org\/wiki\/Commodity_price_shocks \"Commodity price shocks\") [Credit crunch](https:\/\/en.wikipedia.org\/wiki\/Credit_crunch \"Credit crunch\") [Credit cycle](https:\/\/en.wikipedia.org\/wiki\/Credit_cycle \"Credit cycle\") [Currency crisis](https:\/\/en.wikipedia.org\/wiki\/Currency_crisis \"Currency crisis\") [Debt crisis](https:\/\/en.wikipedia.org\/wiki\/Debt_crisis \"Debt crisis\") [Energy crisis](https:\/\/en.wikipedia.org\/wiki\/Energy_crisis \"Energy crisis\") [Financial contagion](https:\/\/en.wikipedia.org\/wiki\/Financial_contagion \"Financial contagion\") [Social contagion](https:\/\/en.wikipedia.org\/wiki\/Social_contagion \"Social contagion\") [Flash crash](https:\/\/en.wikipedia.org\/wiki\/Flash_crash \"Flash crash\") [Hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation \"Hyperinflation\") [Liquidity crisis](https:\/\/en.wikipedia.org\/wiki\/Liquidity_crisis \"Liquidity crisis\") [Accounting](https:\/\/en.wikipedia.org\/wiki\/Accounting_liquidity \"Accounting liquidity\") [Capital](https:\/\/en.wikipedia.org\/wiki\/Liquid_capital \"Liquid capital\") [Funding](https:\/\/en.wikipedia.org\/wiki\/Funding_liquidity \"Funding liquidity\") [Market](https:\/\/en.wikipedia.org\/wiki\/Market_liquidity \"Market liquidity\") [Minsky moment](https:\/\/en.wikipedia.org\/wiki\/Minsky_moment \"Minsky moment\") [Social crisis](https:\/\/en.wikipedia.org\/wiki\/Social_crisis \"Social crisis\") [Stock market crash](https:\/\/en.wikipedia.org\/wiki\/Stock_market_crash \"Stock market crash\") |   |\n| Pre-[1000](https:\/\/en.wikipedia.org\/wiki\/Commercial_revolution \"Commercial revolution\") | [Financial crisis of 33 CE](https:\/\/en.wikipedia.org\/wiki\/Financial_crisis_of_33 \"Financial crisis of 33\") [Crisis of the Third Century](https:\/\/en.wikipedia.org\/wiki\/Crisis_of_the_Third_Century \"Crisis of the Third Century\") (235–284 CE) |\n| [Commercial revolution](https:\/\/en.wikipedia.org\/wiki\/Commercial_revolution \"Commercial revolution\") (1000–1760) | [Great Bullion Famine](https:\/\/en.wikipedia.org\/wiki\/Great_Bullion_Famine \"Great Bullion Famine\") (c. 1400–c. 1500) [The Great Debasement](https:\/\/en.wikipedia.org\/wiki\/The_Great_Debasement \"The Great Debasement\") (1544–1551) [Spanish Price Revolution](https:\/\/en.wikipedia.org\/wiki\/Price_revolution \"Price revolution\") (c. 1550–c. 1650) [Dutch Republic stock market crashes](https:\/\/en.wikipedia.org\/wiki\/Financial_history_of_the_Dutch_Republic \"Financial history of the Dutch Republic\") (c. 1600–1760) *[Kipper und Wipper](https:\/\/en.wikipedia.org\/wiki\/Kipper_und_Wipper \"Kipper und Wipper\")* (1621–1623) [Tulip mania](https:\/\/en.wikipedia.org\/wiki\/Tulip_mania \"Tulip mania\") (1637) [South Sea bubble](https:\/\/en.wikipedia.org\/wiki\/South_Sea_Company \"South Sea Company\") (1720) [Mississippi bubble](https:\/\/en.wikipedia.org\/wiki\/John_Law%27s_Company \"John Law's Company\") (1720) |\n| [1st Industrial Revolution](https:\/\/en.wikipedia.org\/wiki\/Industrial_Revolution \"Industrial Revolution\") (1760–1840) | [Amsterdam banking crisis of 1763](https:\/\/en.wikipedia.org\/wiki\/Amsterdam_banking_crisis_of_1763 \"Amsterdam banking crisis of 1763\") [Bengal Bubble of 1769](https:\/\/en.wikipedia.org\/wiki\/Bengal_Bubble_of_1769 \"Bengal Bubble of 1769\") (1769–1784) [British credit crisis of 1772–1773](https:\/\/en.wikipedia.org\/wiki\/British_credit_crisis_of_1772%E2%80%931773 \"British credit crisis of 1772–1773\") [Dutch Republic financial collapse](https:\/\/en.wikipedia.org\/wiki\/Financial_history_of_the_Dutch_Republic \"Financial history of the Dutch Republic\") (c. 1780–1795) [Copper Panic of 1789](https:\/\/en.wikipedia.org\/wiki\/Copper_Panic_of_1789 \"Copper Panic of 1789\") [Panic of 1792](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1792 \"Panic of 1792\") [Panic of 1796–1797](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1796%E2%80%931797 \"Panic of 1796–1797\") [Danish state bankruptcy of 1813](https:\/\/en.wikipedia.org\/wiki\/Danish_state_bankruptcy_of_1813 \"Danish state bankruptcy of 1813\") [Post-Napoleonic Irish grain price and land use shocks](https:\/\/en.wikipedia.org\/wiki\/Commodity_price_shocks \"Commodity price shocks\") (1815–1816) [Panic of 1819](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1819 \"Panic of 1819\") [Panic of 1825](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1825 \"Panic of 1825\") [Panic of 1837](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1837 \"Panic of 1837\") |\n| 1840–1870 | [European potato failure](https:\/\/en.wikipedia.org\/wiki\/European_potato_failure \"European potato failure\") (1845–1856) [Great Irish Famine](https:\/\/en.wikipedia.org\/wiki\/Great_Famine_\$Ireland\$ \"Great Famine (Ireland)\") [Highland Potato Famine](https:\/\/en.wikipedia.org\/wiki\/Highland_Potato_Famine \"Highland Potato Famine\") [Panic of 1847](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1847 \"Panic of 1847\") [Panic of 1857](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1857 \"Panic of 1857\") [Panic of 1866](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1866 \"Panic of 1866\") [Black Friday](https:\/\/en.wikipedia.org\/wiki\/Black_Friday_\$1869\$ \"Black Friday (1869)\") (1869) |\n| [2nd Industrial Revolution](https:\/\/en.wikipedia.org\/wiki\/Second_Industrial_Revolution \"Second Industrial Revolution\") (1870–1914) | [Panic of 1873](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1873 \"Panic of 1873\") [Paris Bourse crash of 1882](https:\/\/en.wikipedia.org\/wiki\/Paris_Bourse_crash_of_1882 \"Paris Bourse crash of 1882\") [Panic of 1884](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1884 \"Panic of 1884\") [Arendal crash](https:\/\/en.wikipedia.org\/wiki\/Arendal_crash \"Arendal crash\") (1886) [Baring crisis](https:\/\/en.wikipedia.org\/wiki\/Baring_crisis \"Baring crisis\") (1890) [Encilhamento](https:\/\/en.wikipedia.org\/wiki\/Encilhamento \"Encilhamento\") (1890–1893) [Panic of 1893](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1893 \"Panic of 1893\") [Australian banking crisis of 1893](https:\/\/en.wikipedia.org\/wiki\/Australian_banking_crisis_of_1893 \"Australian banking crisis of 1893\") [Black Monday](https:\/\/en.wikipedia.org\/wiki\/Black_Monday_\$1894\$ \"Black Monday (1894)\") (1894) [Panic of 1896](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1896 \"Panic of 1896\") [Panic of 1901](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1901 \"Panic of 1901\") [Panic of 1907](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1907 \"Panic of 1907\") [Shanghai rubber stock market crisis](https:\/\/en.wikipedia.org\/wiki\/Shanghai_rubber_stock_market_crisis \"Shanghai rubber stock market crisis\") (1910) [Panic of 1910–11](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1910%E2%80%9311 \"Panic of 1910–11\") [Financial crisis of 1914](https:\/\/en.wikipedia.org\/wiki\/Financial_crisis_of_1914 \"Financial crisis of 1914\") |\n| [Interwar period](https:\/\/en.wikipedia.org\/wiki\/Interwar_period \"Interwar period\") (1918–1939) | [Early Soviet hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_early_Soviet_Russia \"Hyperinflation in early Soviet Russia\") (1917–1924) [Weimar Republic hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_the_Weimar_Republic \"Hyperinflation in the Weimar Republic\") (1921–1923) [Shōwa financial crisis](https:\/\/en.wikipedia.org\/wiki\/Sh%C5%8Dwa_financial_crisis \"Shōwa financial crisis\") (1927) [Wall Street crash of 1929](https:\/\/en.wikipedia.org\/wiki\/Wall_Street_crash_of_1929 \"Wall Street crash of 1929\") [Panic of 1930](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1930 \"Panic of 1930\") [Chinese hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Chinese_hyperinflation \"Chinese hyperinflation\") (1937–1950) |\n| [Wartime period](https:\/\/en.wikipedia.org\/wiki\/World_War_II \"World War II\") (1939–1945) | [Greek hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Greece \"Hyperinflation in Greece\") (1941–1946) [Chinese hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Chinese_hyperinflation \"Chinese hyperinflation\") (1937–1950) |\n| [Post–WWII expansion](https:\/\/en.wikipedia.org\/wiki\/Post%E2%80%93World_War_II_economic_expansion \"Post–World War II economic expansion\") (1945–1973) | [Hungarian pengő hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hungarian_peng%C5%91#Hyperinflation \"Hungarian pengő\") (1945–1946) [Kennedy Slide of 1962](https:\/\/en.wikipedia.org\/wiki\/Kennedy_Slide_of_1962 \"Kennedy Slide of 1962\") [1963–1965 Indonesian hyperinflation](https:\/\/en.wikipedia.org\/w\/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1 \"1963–1965 Indonesian hyperinflation (page does not exist)\") [Chinese hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Chinese_hyperinflation \"Chinese hyperinflation\") (1937–1950) |\n| [Great Inflation](https:\/\/en.wikipedia.org\/wiki\/Stagflation \"Stagflation\") (1973–1982) | [1970s energy crisis](https:\/\/en.wikipedia.org\/wiki\/1970s_energy_crisis \"1970s energy crisis\") (1973–1980) [1973 oil crisis](https:\/\/en.wikipedia.org\/wiki\/1973_oil_crisis \"1973 oil crisis\") [1973–1974 stock market crash](https:\/\/en.wikipedia.org\/wiki\/1973%E2%80%931974_stock_market_crash \"1973–1974 stock market crash\") [Secondary banking crisis of 1973–1975](https:\/\/en.wikipedia.org\/wiki\/Secondary_banking_crisis_of_1973%E2%80%931975 \"Secondary banking crisis of 1973–1975\") [Steel crisis](https:\/\/en.wikipedia.org\/wiki\/Steel_crisis \"Steel crisis\") (1973–1982) [Latin American debt crisis](https:\/\/en.wikipedia.org\/wiki\/Latin_American_debt_crisis \"Latin American debt crisis\") (1975–1982) [1976 sterling crisis](https:\/\/en.wikipedia.org\/wiki\/1976_sterling_crisis \"1976 sterling crisis\") [1979 oil crisis](https:\/\/en.wikipedia.org\/wiki\/1979_oil_crisis \"1979 oil crisis\") [Brazilian hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Brazil \"Hyperinflation in Brazil\") (1980–1982) |\n| [Great Moderation](https:\/\/en.wikipedia.org\/wiki\/Great_Moderation \"Great Moderation\")\/ Great Regression (1982–2007) | [Brazilian hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Brazil \"Hyperinflation in Brazil\") (1982–1994) [Souk Al-Manakh stock market crash](https:\/\/en.wikipedia.org\/wiki\/Souk_Al-Manakh_stock_market_crash \"Souk Al-Manakh stock market crash\") (1982) [Chilean crisis of 1982](https:\/\/en.wikipedia.org\/wiki\/Crisis_of_1982 \"Crisis of 1982\") [1983 Israel bank stock crisis](https:\/\/en.wikipedia.org\/wiki\/1983_Israel_bank_stock_crisis \"1983 Israel bank stock crisis\") [Black Saturday (1983)](https:\/\/en.wikipedia.org\/wiki\/Black_Saturday_\$1983\$ \"Black Saturday (1983)\") [Savings and loan crisis](https:\/\/en.wikipedia.org\/wiki\/Savings_and_loan_crisis \"Savings and loan crisis\") (1986–1995) [Cameroonian economic crisis](https:\/\/en.wikipedia.org\/wiki\/Cameroonian_economic_crisis \"Cameroonian economic crisis\") (1987–2000s) [Black Monday (1987)](https:\/\/en.wikipedia.org\/wiki\/Black_Monday_\$1987\$ \"Black Monday (1987)\") [1988–1992 Norwegian banking crisis](https:\/\/en.wikipedia.org\/wiki\/1988%E2%80%931992_Norwegian_banking_crisis \"1988–1992 Norwegian banking crisis\") [Japanese asset price bubble crash](https:\/\/en.wikipedia.org\/wiki\/Japanese_asset_price_bubble \"Japanese asset price bubble\") (1990–1992) [Rhode Island banking crisis](https:\/\/en.wikipedia.org\/wiki\/Rhode_Island_banking_crisis \"Rhode Island banking crisis\") (1990–1992) [1991 Indian economic crisis](https:\/\/en.wikipedia.org\/wiki\/1991_Indian_economic_crisis \"1991 Indian economic crisis\") [1990–1994 Swedish financial crisis](https:\/\/en.wikipedia.org\/wiki\/1990%E2%80%931994_Swedish_financial_crisis \"1990–1994 Swedish financial crisis\") [1990s Finnish banking crisis](https:\/\/en.wikipedia.org\/wiki\/1990s_Finnish_banking_crisis \"1990s Finnish banking crisis\") [1990s Armenian energy crisis](https:\/\/en.wikipedia.org\/wiki\/1990s_Armenian_energy_crisis \"1990s Armenian energy crisis\") [Cuban Special Period](https:\/\/en.wikipedia.org\/wiki\/Special_Period \"Special Period\") (1991–2000) [Black Wednesday (1992 Sterling crisis)](https:\/\/en.wikipedia.org\/wiki\/Black_Wednesday \"Black Wednesday\") [Hyperinflation in Serbia and Montenegro](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Serbia_and_Montenegro \"Hyperinflation in Serbia and Montenegro\") (1992–1994) [1994 bond market crisis](https:\/\/en.wikipedia.org\/wiki\/1994_bond_market_crisis \"1994 bond market crisis\") [Venezuelan banking crisis of 1994](https:\/\/en.wikipedia.org\/wiki\/Venezuelan_banking_crisis_of_1994 \"Venezuelan banking crisis of 1994\") [1994 Papua New Guinea financial crisis](https:\/\/en.wikipedia.org\/wiki\/1994_Papua_New_Guinea_financial_crisis \"1994 Papua New Guinea financial crisis\") [Mexican peso crisis](https:\/\/en.wikipedia.org\/wiki\/Mexican_peso_crisis \"Mexican peso crisis\") (1994–1996) [1997 Asian financial crisis](https:\/\/en.wikipedia.org\/wiki\/1997_Asian_financial_crisis \"1997 Asian financial crisis\") [October 27, 1997, mini-crash](https:\/\/en.wikipedia.org\/wiki\/October_27,_1997,_mini-crash \"October 27, 1997, mini-crash\") [1998 Russian financial crisis](https:\/\/en.wikipedia.org\/wiki\/1998_Russian_financial_crisis \"1998 Russian financial crisis\") [1998–1999 Ecuador economic crisis](https:\/\/en.wikipedia.org\/wiki\/1998%E2%80%931999_Ecuador_economic_crisis \"1998–1999 Ecuador economic crisis\") [1998–2002 Argentine great depression](https:\/\/en.wikipedia.org\/wiki\/1998%E2%80%932002_Argentine_great_depression \"1998–2002 Argentine great depression\") [Samba effect](https:\/\/en.wikipedia.org\/wiki\/Samba_effect \"Samba effect\") (1999) [Dot-com bubble](https:\/\/en.wikipedia.org\/wiki\/Dot-com_bubble \"Dot-com bubble\") (2000–2004) [9\/11 stock market crash](https:\/\/en.wikipedia.org\/wiki\/Economic_effects_of_the_September_11_attacks \"Economic effects of the September 11 attacks\") (2001) [2001 Turkish economic crisis](https:\/\/en.wikipedia.org\/wiki\/2001_Turkish_economic_crisis \"2001 Turkish economic crisis\") [South American economic crisis of 2002](https:\/\/en.wikipedia.org\/wiki\/South_American_economic_crisis_of_2002 \"South American economic crisis of 2002\") [Stock market downturn of 2002](https:\/\/en.wikipedia.org\/wiki\/Stock_market_downturn_of_2002 \"Stock market downturn of 2002\") [2002 Uruguay banking crisis](https:\/\/en.wikipedia.org\/wiki\/2002_Uruguay_banking_crisis \"2002 Uruguay banking crisis\") [2003 Myanmar banking crisis](https:\/\/en.wikipedia.org\/wiki\/2003_Myanmar_banking_crisis \"2003 Myanmar banking crisis\") [2000s energy crisis](https:\/\/en.wikipedia.org\/wiki\/2000s_energy_crisis \"2000s energy crisis\") (2003–2008) [2004 Argentine energy crisis](https:\/\/en.wikipedia.org\/wiki\/2004_Argentine_energy_crisis \"2004 Argentine energy crisis\") [Chinese stock bubble of 2007](https:\/\/en.wikipedia.org\/wiki\/Chinese_stock_bubble_of_2007 \"Chinese stock bubble of 2007\") [Hyperinflation in Zimbabwe](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Zimbabwe \"Hyperinflation in Zimbabwe\") (2007–present) |\n| [Great Recession](https:\/\/en.wikipedia.org\/wiki\/Great_Recession \"Great Recession\") (2007–2009) | [2008 financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008_financial_crisis \"2008 financial crisis\") [September 2008](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_September_2008 \"Global financial crisis in September 2008\") [October 2008](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_October_2008 \"Global financial crisis in October 2008\") [November 2008](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_November_2008 \"Global financial crisis in November 2008\") [December 2008](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_December_2008 \"Global financial crisis in December 2008\") [2009](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_2009 \"Global financial crisis in 2009\") [Subprime mortgage crisis](https:\/\/en.wikipedia.org\/wiki\/Subprime_mortgage_crisis \"Subprime mortgage crisis\") [2000s U.S. housing market correction](https:\/\/en.wikipedia.org\/wiki\/2000s_United_States_housing_market_correction \"2000s United States housing market correction\") [U.S. bear market of 2007–2009](https:\/\/en.wikipedia.org\/wiki\/United_States_bear_market_of_2007%E2%80%932009 \"United States bear market of 2007–2009\") [2008 Latvian financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008_Latvian_financial_crisis \"2008 Latvian financial crisis\") [2008–2009 Belgian financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008%E2%80%932009_Belgian_financial_crisis \"2008–2009 Belgian financial crisis\") [Great Recession in Russia](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_Russia \"Great Recession in Russia\") [2008–2009 Ukrainian financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008%E2%80%932009_Ukrainian_financial_crisis \"2008–2009 Ukrainian financial crisis\") [2008–2011 Icelandic financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008%E2%80%932011_Icelandic_financial_crisis \"2008–2011 Icelandic financial crisis\") [Post-2008 Irish banking crisis](https:\/\/en.wikipedia.org\/wiki\/Post-2008_Irish_banking_crisis \"Post-2008 Irish banking crisis\") [2008–2014 Spanish financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008%E2%80%932014_Spanish_financial_crisis \"2008–2014 Spanish financial crisis\") [Blue Monday Crash 2009](https:\/\/en.wikipedia.org\/wiki\/Blue_Monday_Crash_2009 \"Blue Monday Crash 2009\") [Euro area crisis](https:\/\/en.wikipedia.org\/wiki\/Euro_area_crisis \"Euro area crisis\") [Greek government-debt crisis](https:\/\/en.wikipedia.org\/wiki\/Greek_government-debt_crisis \"Greek government-debt crisis\") |\n| [Information Age](https:\/\/en.wikipedia.org\/wiki\/Information_Age \"Information Age\") (2009–present) | [2009 Dubai debt standstill](https:\/\/en.wikipedia.org\/wiki\/Dubai_World \"Dubai World\") [Venezuelan banking crisis of 2009–2010](https:\/\/en.wikipedia.org\/wiki\/Venezuelan_banking_crisis_of_2009%E2%80%932010 \"Venezuelan banking crisis of 2009–2010\") [2010–2014 Portuguese financial crisis](https:\/\/en.wikipedia.org\/wiki\/2010%E2%80%932014_Portuguese_financial_crisis \"2010–2014 Portuguese financial crisis\") [Energy crisis in Venezuela](https:\/\/en.wikipedia.org\/wiki\/Energy_crisis_in_Venezuela \"Energy crisis in Venezuela\") (2010–present) [Syrian economic crisis](https:\/\/en.wikipedia.org\/wiki\/Economy_of_Syria \"Economy of Syria\") (2011–present) [August 2011 stock markets fall](https:\/\/en.wikipedia.org\/wiki\/August_2011_stock_markets_fall \"August 2011 stock markets fall\") [2011 Bangladesh share market scam](https:\/\/en.wikipedia.org\/wiki\/2011_Bangladesh_share_market_scam \"2011 Bangladesh share market scam\") [2012–2013 Cypriot financial crisis](https:\/\/en.wikipedia.org\/wiki\/2012%E2%80%932013_Cypriot_financial_crisis \"2012–2013 Cypriot financial crisis\") [Chinese Banking Liquidity Crisis of 2013](https:\/\/en.wikipedia.org\/wiki\/Chinese_Banking_Liquidity_Crisis_of_2013 \"Chinese Banking Liquidity Crisis of 2013\") [Venezuela economic crisis](https:\/\/en.wikipedia.org\/wiki\/2013%E2%80%93present_economic_crisis_in_Venezuela \"2013–present economic crisis in Venezuela\") (2013–present) [2014 Brazilian economic crisis](https:\/\/en.wikipedia.org\/wiki\/2014_Brazilian_economic_crisis \"2014 Brazilian economic crisis\") [Puerto Rican government-debt crisis](https:\/\/en.wikipedia.org\/wiki\/Puerto_Rican_government-debt_crisis \"Puerto Rican government-debt crisis\") (2014–2022) [Russian financial crisis (2014–2016)](https:\/\/en.wikipedia.org\/wiki\/Russian_financial_crisis_\$2014%E2%80%932016\$ \"Russian financial crisis (2014–2016)\") [2015–16 Nepal blockade](https:\/\/en.wikipedia.org\/wiki\/2015%E2%80%9316_Nepal_blockade \"2015–16 Nepal blockade\") [2015–2016 Chinese stock market turbulence](https:\/\/en.wikipedia.org\/wiki\/2015%E2%80%932016_Chinese_stock_market_turbulence \"2015–2016 Chinese stock market turbulence\") [2015–2016 stock market selloff](https:\/\/en.wikipedia.org\/wiki\/2015%E2%80%932016_stock_market_selloff \"2015–2016 stock market selloff\") [Brexit stock market crash](https:\/\/en.wikipedia.org\/wiki\/Economic_effects_of_Brexit \"Economic effects of Brexit\") (2016) [Hyperinflation in Venezuela](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Venezuela \"Hyperinflation in Venezuela\") (2016–2022) [2017 Sri Lankan fuel crisis](https:\/\/en.wikipedia.org\/wiki\/2017_Sri_Lankan_fuel_crisis \"2017 Sri Lankan fuel crisis\") [Ghana banking crisis](https:\/\/en.wikipedia.org\/wiki\/Ghana_banking_crisis \"Ghana banking crisis\") (2017–2018) [Turkish economic crisis (2018–current)](https:\/\/en.wikipedia.org\/wiki\/Turkish_economic_crisis_\$2018%E2%80%93current\$ \"Turkish economic crisis (2018–current)\") [Lebanese liquidity crisis](https:\/\/en.wikipedia.org\/wiki\/Lebanese_liquidity_crisis \"Lebanese liquidity crisis\") (2019–present) [Sri Lankan economic crisis (2019–2024)](https:\/\/en.wikipedia.org\/wiki\/Sri_Lankan_economic_crisis_\$2019%E2%80%932024\$ \"Sri Lankan economic crisis (2019–2024)\") [COVID-19 pandemic](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic \"Economic impact of the COVID-19 pandemic\") [Financial market impact](https:\/\/en.wikipedia.org\/wiki\/Financial_market_impact_of_the_COVID-19_pandemic \"Financial market impact of the COVID-19 pandemic\") [2020 stock market crash](https:\/\/en.wikipedia.org\/wiki\/2020_stock_market_crash \"2020 stock market crash\") [Recession](https:\/\/en.wikipedia.org\/wiki\/COVID-19_recession \"COVID-19 recession\") [Chinese property sector crisis (2020–present)](https:\/\/en.wikipedia.org\/wiki\/Chinese_property_sector_crisis_\$2020%E2%80%93present\$ \"Chinese property sector crisis (2020–present)\") [2021–2023 inflation surge](https:\/\/en.wikipedia.org\/wiki\/2021%E2%80%932023_inflation_surge \"2021–2023 inflation surge\") [2022 Russian financial crisis](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_Russo-Ukrainian_war_\$2022%E2%80%93present\$ \"Economic impact of the Russo-Ukrainian war (2022–present)\") [Pakistani economic crisis (2021–2024)](https:\/\/en.wikipedia.org\/wiki\/Pakistani_economic_crisis_\$2021%E2%80%932024\$ \"Pakistani economic crisis (2021–2024)\") [2022 stock market decline]() [German economic crisis (2022–present)](https:\/\/en.wikipedia.org\/wiki\/German_economic_crisis_\$2022%E2%80%93present\$ \"German economic crisis (2022–present)\") [2023 United States banking crisis](https:\/\/en.wikipedia.org\/wiki\/2023_United_States_banking_crisis \"2023 United States banking crisis\") [2023–2024 Egyptian financial crisis](https:\/\/en.wikipedia.org\/wiki\/2023%E2%80%932024_Egyptian_financial_crisis \"2023–2024 Egyptian financial crisis\") [2025 stock market crash](https:\/\/en.wikipedia.org\/wiki\/2025_stock_market_crash \"2025 stock market crash\") |\n| [List of banking crises](https:\/\/en.wikipedia.org\/wiki\/List_of_banking_crises \"List of banking crises\") [List of economic crises](https:\/\/en.wikipedia.org\/wiki\/List_of_economic_crises \"List of economic crises\") [List of sovereign debt crises](https:\/\/en.wikipedia.org\/wiki\/List_of_sovereign_debt_crises \"List of sovereign debt crises\") [List of stock market crashes and bear markets](https:\/\/en.wikipedia.org\/wiki\/List_of_stock_market_crashes_and_bear_markets \"List of stock market crashes and bear markets\") |   |\n\n| [v](https:\/\/en.wikipedia.org\/wiki\/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions \"Template:United States – Commonwealth of Nations recessions\") [t](https:\/\/en.wikipedia.org\/wiki\/Template_talk:United_States_%E2%80%93_Commonwealth_of_Nations_recessions \"Template talk:United States – Commonwealth of Nations recessions\") [e](https:\/\/en.wikipedia.org\/wiki\/Special:EditPage\/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions \"Special:EditPage\/Template:United States – Commonwealth of Nations recessions\")[Economic history of the United States](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_the_United_States \"Economic history of the United States\") and Commonwealth of Nations countries |   |\n|---|---|\n| [Commercial revolution](https:\/\/en.wikipedia.org\/wiki\/Commercial_revolution \"Commercial revolution\") (1000–1760) | [Great Bullion Famine](https:\/\/en.wikipedia.org\/wiki\/Great_Bullion_Famine \"Great Bullion Famine\") (c. 1400–c. 1500) [Great Slump](https:\/\/en.wikipedia.org\/wiki\/Great_Slump_\$15th_century\$ \"Great Slump (15th century)\") (1430–1490) [The Great Debasement](https:\/\/en.wikipedia.org\/wiki\/The_Great_Debasement \"The Great Debasement\") (1544–1551) [Financial Revolution](https:\/\/en.wikipedia.org\/wiki\/Financial_Revolution \"Financial Revolution\") (1690–1800) [Slump of 1706](https:\/\/en.wikipedia.org\/wiki\/War_of_the_Spanish_Succession \"War of the Spanish Succession\") [Great Frost of 1709](https:\/\/en.wikipedia.org\/wiki\/Great_Frost_of_1709 \"Great Frost of 1709\") [South Sea bubble](https:\/\/en.wikipedia.org\/wiki\/South_Sea_Company \"South Sea Company\") (1713–1720) [Mississippi bubble](https:\/\/en.wikipedia.org\/wiki\/John_Law%27s_Company \"John Law's Company\") (1717–1720) [Economic impact of the Seven Years' War](https:\/\/en.wikipedia.org\/wiki\/Financial_costs_of_the_Seven_Years%27_War \"Financial costs of the Seven Years' War\") (1754–1763) |\n| [1st Industrial Revolution](https:\/\/en.wikipedia.org\/wiki\/Industrial_Revolution \"Industrial Revolution\")\/ [Market Revolution](https:\/\/en.wikipedia.org\/wiki\/Market_Revolution \"Market Revolution\") (1760–1870) | Industrial Revolution [Scotland](https:\/\/en.wikipedia.org\/wiki\/Industrial_Revolution_in_Scotland \"Industrial Revolution in Scotland\") [United States](https:\/\/en.wikipedia.org\/wiki\/Industrial_Revolution_in_the_United_States \"Industrial Revolution in the United States\") [Wales](https:\/\/en.wikipedia.org\/wiki\/Industrial_Revolution_in_Wales \"Industrial Revolution in Wales\") [Bengal Bubble of 1769](https:\/\/en.wikipedia.org\/wiki\/Bengal_Bubble_of_1769 \"Bengal Bubble of 1769\") (1769–1784) [British credit crisis of 1772–1773](https:\/\/en.wikipedia.org\/wiki\/British_credit_crisis_of_1772%E2%80%931773 \"British credit crisis of 1772–1773\") [American Revolutionary War inflation](https:\/\/en.wikipedia.org\/wiki\/Financial_costs_of_the_American_Revolutionary_War \"Financial costs of the American Revolutionary War\") (1775–1783) [Panic of 1785](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") (1785–1788) [Copper Panic of 1789](https:\/\/en.wikipedia.org\/wiki\/Copper_Panic_of_1789 \"Copper Panic of 1789\")\/[Panic of 1792](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1792 \"Panic of 1792\") (1789–1793) [Canal Mania](https:\/\/en.wikipedia.org\/wiki\/Canal_Mania \"Canal Mania\") (c. 1790–c. 1810) [Panic of 1796–1797](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1796%E2%80%931797 \"Panic of 1796–1797\") (1796–1799) [1802–1804 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") [Carolina gold rush](https:\/\/en.wikipedia.org\/wiki\/Carolina_gold_rush \"Carolina gold rush\") (1802–1825) [Depression of 1807](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") (1807–1810) [1810s Alabama real estate bubble](https:\/\/en.wikipedia.org\/wiki\/Alabama_real_estate_bubble_of_the_1810s \"Alabama real estate bubble of the 1810s\") [Alabama Fever](https:\/\/en.wikipedia.org\/wiki\/Alabama_Fever \"Alabama Fever\") [1812 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") [Post-Napoleonic Depression](https:\/\/en.wikipedia.org\/wiki\/Post-Napoleonic_Depression \"Post-Napoleonic Depression\") (1815–1821) [1822–23 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") [Panic of 1825](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1825 \"Panic of 1825\") [Panic of 1826](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1826 \"Panic of 1826\") [1828–29 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") [Georgia Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Georgia_Gold_Rush \"Georgia Gold Rush\") (1828–c. 1840) [1830s Chicago real estate bubble](https:\/\/en.wikipedia.org\/wiki\/Chicago_real_estate_bubble_of_the_1830s \"Chicago real estate bubble of the 1830s\") [1833–34 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Early_recessions_and_crises_\$1785%E2%80%931836\$ \"List of recessions in the United States\") [Panic of 1837](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1837 \"Panic of 1837\") (1836–1838 and 1839–1843) [U.S. state defaults in the 1840s](https:\/\/en.wikipedia.org\/wiki\/U.S._state_defaults_in_the_1840s \"U.S. state defaults in the 1840s\") [Railway Mania](https:\/\/en.wikipedia.org\/wiki\/Railway_Mania \"Railway Mania\") (c. 1840–c. 1850) [Plank Road Boom](https:\/\/en.wikipedia.org\/wiki\/Plank_Road_Boom \"Plank Road Boom\") (1844–c. 1855) [1845–46 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Panic of 1847](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1847 \"Panic of 1847\") (1847–1848) [California gold rush](https:\/\/en.wikipedia.org\/wiki\/California_gold_rush \"California gold rush\") (1848–1855) [British Columbia gold rushes](https:\/\/en.wikipedia.org\/wiki\/British_Columbia_gold_rushes \"British Columbia gold rushes\") [Queen Charlottes Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Queen_Charlottes_Gold_Rush \"Queen Charlottes Gold Rush\"), 1851 [Fraser Canyon Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Fraser_Canyon_Gold_Rush \"Fraser Canyon Gold Rush\"), 1858 [Rock Creek Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Rock_Creek_Gold_Rush \"Rock Creek Gold Rush\"), 1859 [Similkameen Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Similkameen_Gold_Rush \"Similkameen Gold Rush\"), 1860 [Stikine Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Stikine_Gold_Rush \"Stikine Gold Rush\"), 1861 [Cariboo Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Cariboo_Gold_Rush \"Cariboo Gold Rush\"), 1861–1867 [Wild Horse Creek Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Fisherville,_British_Columbia \"Fisherville, British Columbia\"), 1863–1870 [Leechtown Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Leechtown,_British_Columbia \"Leechtown, British Columbia\"), 1864–1865 [Big Bend Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Big_Bend_Gold_Rush \"Big Bend Gold Rush\"), c. 1865 [Omineca Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Omineca_Gold_Rush \"Omineca Gold Rush\"), 1869 [Victorian gold rush](https:\/\/en.wikipedia.org\/wiki\/Victorian_gold_rush \"Victorian gold rush\") (1851–c. 1870) [New South Wales gold rush](https:\/\/en.wikipedia.org\/wiki\/New_South_Wales_gold_rush \"New South Wales gold rush\") (1851–1880) [Australian gold rushes](https:\/\/en.wikipedia.org\/wiki\/Australian_gold_rushes \"Australian gold rushes\") (1851–1914) [1853–54 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Panic of 1857](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1857 \"Panic of 1857\") (1857–1858) [Pike's Peak gold rush](https:\/\/en.wikipedia.org\/wiki\/Pike%27s_Peak_gold_rush \"Pike's Peak gold rush\") (1858–1861) [Pennsylvania oil rush](https:\/\/en.wikipedia.org\/wiki\/Pennsylvania_oil_rush \"Pennsylvania oil rush\") (1859–1891) [1860–61 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Colorado River mining boom](https:\/\/en.wikipedia.org\/wiki\/Steamboats_of_the_Colorado_River \"Steamboats of the Colorado River\") (1861–1864) [Otago gold rush](https:\/\/en.wikipedia.org\/wiki\/Otago_gold_rush \"Otago gold rush\") (1861–1864) [U.S. Civil War economy](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_the_American_Civil_War \"Economic history of the American Civil War\") (1861–1865) [First Nova Scotia Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Gold_mining_in_Nova_Scotia \"Gold mining in Nova Scotia\") (1861–1874) [West Coast gold rush](https:\/\/en.wikipedia.org\/wiki\/West_Coast_gold_rush \"West Coast gold rush\") (1864–1867) [Panic of 1866](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1866 \"Panic of 1866\") (1865–1867) [Vermilion Lake gold rush](https:\/\/en.wikipedia.org\/wiki\/Vermilion_Lake_gold_rush \"Vermilion Lake gold rush\") (1865–1867) [Kildonan Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Kildonan_Gold_Rush \"Kildonan Gold Rush\") (1869) [Black Friday](https:\/\/en.wikipedia.org\/wiki\/Black_Friday_\$1869\$ \"Black Friday (1869)\") (1869–1870) |\n| [Gilded Age](https:\/\/en.wikipedia.org\/wiki\/Gilded_Age \"Gilded Age\")\/ [2nd Industrial Revolution](https:\/\/en.wikipedia.org\/wiki\/Second_Industrial_Revolution \"Second Industrial Revolution\") (1870–1914) | [Coromandel Gold Rushes](https:\/\/en.wikipedia.org\/wiki\/Coromandel_Gold_Rushes \"Coromandel Gold Rushes\") (c. 1870–c. 1890) [Cassiar Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Cassiar_Country \"Cassiar Country\") (c. 1870–c. 1890) [Long Depression](https:\/\/en.wikipedia.org\/wiki\/Long_Depression \"Long Depression\") 1873–1879; [Panic of 1873](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1873 \"Panic of 1873\") [Black Hills gold rush](https:\/\/en.wikipedia.org\/wiki\/Black_Hills_gold_rush \"Black Hills gold rush\") (1874–1880) [Colorado Silver Boom](https:\/\/en.wikipedia.org\/wiki\/Colorado_Silver_Boom \"Colorado Silver Boom\") (1879–1893) [Western Australian gold rushes](https:\/\/en.wikipedia.org\/wiki\/Western_Australian_gold_rushes \"Western Australian gold rushes\") (c. 1880–c. 1900) [Indiana gas boom](https:\/\/en.wikipedia.org\/wiki\/Indiana_gas_boom \"Indiana gas boom\") (c. 1880–1903) [Ohio oil rush](https:\/\/en.wikipedia.org\/wiki\/Petroleum_industry_in_Ohio \"Petroleum industry in Ohio\") (c. 1880–c. 1930) [Depression of 1882–1885](https:\/\/en.wikipedia.org\/wiki\/Depression_of_1882%E2%80%931885 \"Depression of 1882–1885\") [Panic of 1884](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1884 \"Panic of 1884\") [Cayoosh Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Cayoosh_Gold_Rush \"Cayoosh Gold Rush\") (1884) [Witwatersrand Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Witwatersrand_Gold_Rush \"Witwatersrand Gold Rush\") (1886) [1887–88 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Baring crisis](https:\/\/en.wikipedia.org\/wiki\/Baring_crisis \"Baring crisis\") (1890–1891) [Cripple Creek Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Cripple_Creek_Gold_Rush \"Cripple Creek Gold Rush\") (c. 1890–c. 1910) [Panic of 1893](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1893 \"Panic of 1893\") (1893–1897) [Australian banking crisis of 1893](https:\/\/en.wikipedia.org\/wiki\/Australian_banking_crisis_of_1893 \"Australian banking crisis of 1893\") [Black Monday](https:\/\/en.wikipedia.org\/wiki\/Black_Monday_\$1894\$ \"Black Monday (1894)\") (1894) [Panic of 1896](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1896 \"Panic of 1896\") [Klondike Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Klondike_Gold_Rush \"Klondike Gold Rush\") (1896–1899) [Second Nova Scotia Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Gold_mining_in_Nova_Scotia \"Gold mining in Nova Scotia\") (1896–1903) [Kobuk River Stampede](https:\/\/en.wikipedia.org\/wiki\/Kobuk_River_Stampede \"Kobuk River Stampede\") (1897–1899) [Mount Baker gold rush](https:\/\/en.wikipedia.org\/wiki\/Mount_Baker_gold_rush \"Mount Baker gold rush\") (1897–c. 1925) [1899–1900 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Nome Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Nome_Gold_Rush \"Nome Gold Rush\") (1899–1909) [Fairbanks Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Fairbanks_Gold_Rush \"Fairbanks Gold Rush\") (c. 1900–c. 1930) [Texas oil boom](https:\/\/en.wikipedia.org\/wiki\/Texas_oil_boom \"Texas oil boom\") (1901–c. 1950) [Panic of 1901](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1901 \"Panic of 1901\") (1902–1904) [Cobalt silver rush](https:\/\/en.wikipedia.org\/wiki\/Cobalt_silver_rush \"Cobalt silver rush\") (1903–c. 1930) [Panic of 1907](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1907 \"Panic of 1907\") (1907–1908) [Porcupine Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Porcupine_Gold_Rush \"Porcupine Gold Rush\") (1909–c. 1960) [Panic of 1910–11](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1910%E2%80%9311 \"Panic of 1910–11\") (1910–1912) [Financial crisis of 1914](https:\/\/en.wikipedia.org\/wiki\/Financial_crisis_of_1914 \"Financial crisis of 1914\") (1913–14) |\n| World War home fronts\/ [Interwar period](https:\/\/en.wikipedia.org\/wiki\/Interwar_period \"Interwar period\") (1914–1945) | [World War I economy](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_World_War_I \"Economic history of World War I\") and [home fronts](https:\/\/en.wikipedia.org\/wiki\/Home_front_during_World_War_I \"Home front during World War I\") [Australia](https:\/\/en.wikipedia.org\/wiki\/Australia_in_World_War_I#Home_front \"Australia in World War I\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Canada_in_World_War_I#Home_Front \"Canada in World War I\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/History_of_the_United_Kingdom_during_the_First_World_War \"History of the United Kingdom during the First World War\") [United States](https:\/\/en.wikipedia.org\/wiki\/United_States_home_front_during_World_War_I \"United States home front during World War I\") [Post–World War I recession](https:\/\/en.wikipedia.org\/wiki\/Post%E2%80%93World_War_I_recession \"Post–World War I recession\") (1918–1919) [Recession of 1920–1921](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1920%E2%80%931921 \"Recession of 1920–1921\") [1920s Florida land boom](https:\/\/en.wikipedia.org\/wiki\/Florida_land_boom_of_the_1920s \"Florida land boom of the 1920s\") (c. 1920–1925) [Roaring Twenties](https:\/\/en.wikipedia.org\/wiki\/Roaring_Twenties \"Roaring Twenties\") [1923–1924 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [1926–1927 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_\$1836%E2%80%931929\$ \"List of recessions in the United States\") [Great Depression](https:\/\/en.wikipedia.org\/wiki\/Great_Depression \"Great Depression\") 1929–1939; [Wall Street crash of 1929](https:\/\/en.wikipedia.org\/wiki\/Wall_Street_crash_of_1929 \"Wall Street crash of 1929\") [Panic of 1930](https:\/\/en.wikipedia.org\/wiki\/Panic_of_1930 \"Panic of 1930\") [Great Contraction](https:\/\/en.wikipedia.org\/wiki\/Great_Contraction \"Great Contraction\"), 1929–1933 [Recession of 1937–1938](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1937%E2%80%931938 \"Recession of 1937–1938\") [Australia](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_Australia \"Great Depression in Australia\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_Canada \"Great Depression in Canada\") [India](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_India \"Great Depression in India\") [South Africa](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_South_Africa \"Great Depression in South Africa\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_the_United_Kingdom \"Great Depression in the United Kingdom\") [United States](https:\/\/en.wikipedia.org\/wiki\/Great_Depression_in_the_United_States \"Great Depression in the United States\") [1930s Kakamega gold rush](https:\/\/en.wikipedia.org\/wiki\/Kakamega_gold_rush \"Kakamega gold rush\") [Third Nova Scotia Gold Rush](https:\/\/en.wikipedia.org\/wiki\/Gold_mining_in_Nova_Scotia \"Gold mining in Nova Scotia\") (1932–1942) [World War II home front](https:\/\/en.wikipedia.org\/wiki\/Home_front_during_World_War_II \"Home front during World War II\") [Australia](https:\/\/en.wikipedia.org\/wiki\/Australian_home_front_during_World_War_II \"Australian home front during World War II\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Canada_in_World_War_II#Home_front \"Canada in World War II\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/British_home_front_during_World_War_II \"British home front during World War II\") [United States](https:\/\/en.wikipedia.org\/wiki\/United_States_home_front_during_World_War_II \"United States home front during World War II\") |\n| [Post–WWII expansion](https:\/\/en.wikipedia.org\/wiki\/Post%E2%80%93World_War_II_economic_expansion \"Post–World War II economic expansion\")\/ [1970s stagflation](https:\/\/en.wikipedia.org\/wiki\/Stagflation \"Stagflation\") (1945–1982) | [Great Compression](https:\/\/en.wikipedia.org\/wiki\/Great_Compression \"Great Compression\") [1945 recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States#Great_Depression_onward_\$1929%E2%80%93present\$ \"List of recessions in the United States\") [Recession of 1949](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1949 \"Recession of 1949\") (1948–1949) [Hong Kong and Singapore Asian Tiger expansions](https:\/\/en.wikipedia.org\/wiki\/Four_Asian_Tigers \"Four Asian Tigers\") (1950–1990) [1951 Canada recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_Canada \"List of recessions in Canada\") [Recession of 1953](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1953 \"Recession of 1953\") (1953–1954) [Recession of 1958](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1958 \"Recession of 1958\") (1957–1958) [Recession of 1960–1961](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1960%E2%80%931961 \"Recession of 1960–1961\") [Kennedy Slide of 1962](https:\/\/en.wikipedia.org\/wiki\/Kennedy_Slide_of_1962 \"Kennedy Slide of 1962\") [Poseidon bubble](https:\/\/en.wikipedia.org\/wiki\/Poseidon_bubble \"Poseidon bubble\") (1969–1970) [Recession of 1969–1970](https:\/\/en.wikipedia.org\/wiki\/Recession_of_1969%E2%80%931970 \"Recession of 1969–1970\") [1970s commodities boom](https:\/\/en.wikipedia.org\/wiki\/1970s_commodities_boom \"1970s commodities boom\") [1973–1975 recession](https:\/\/en.wikipedia.org\/wiki\/1973%E2%80%931975_recession \"1973–1975 recession\") [1973–1974 stock market crash](https:\/\/en.wikipedia.org\/wiki\/1973%E2%80%931974_stock_market_crash \"1973–1974 stock market crash\") [Secondary banking crisis of 1973–1975](https:\/\/en.wikipedia.org\/wiki\/Secondary_banking_crisis_of_1973%E2%80%931975 \"Secondary banking crisis of 1973–1975\") [1970s energy crisis](https:\/\/en.wikipedia.org\/wiki\/1970s_energy_crisis \"1970s energy crisis\") 1973–1980; [1973 oil crisis](https:\/\/en.wikipedia.org\/wiki\/1973_oil_crisis \"1973 oil crisis\") [1979 oil crisis](https:\/\/en.wikipedia.org\/wiki\/1979_oil_crisis \"1979 oil crisis\") [Steel crisis](https:\/\/en.wikipedia.org\/wiki\/Steel_crisis \"Steel crisis\") (1973–1982) [1976 sterling crisis](https:\/\/en.wikipedia.org\/wiki\/1976_sterling_crisis \"1976 sterling crisis\") [Silver Thursday](https:\/\/en.wikipedia.org\/wiki\/Silver_Thursday \"Silver Thursday\") (1980) [Early 1980s recession](https:\/\/en.wikipedia.org\/wiki\/Early_1980s_recession \"Early 1980s recession\") 1980–1982; [United States](https:\/\/en.wikipedia.org\/wiki\/Early_1980s_recession_in_the_United_States \"Early 1980s recession in the United States\") |\n| [Computer Age](https:\/\/en.wikipedia.org\/wiki\/Information_Age \"Information Age\")\/ [Second Gilded Age](https:\/\/en.wikipedia.org\/wiki\/Second_Gilded_Age \"Second Gilded Age\") (1982–present) | [Great Moderation](https:\/\/en.wikipedia.org\/wiki\/Great_Moderation \"Great Moderation\") (1982–2007) [1980s oil glut](https:\/\/en.wikipedia.org\/wiki\/1980s_oil_glut \"1980s oil glut\") [Black Saturday](https:\/\/en.wikipedia.org\/wiki\/Black_Saturday_\$1983\$ \"Black Saturday (1983)\") (1983) [New Zealand property bubble](https:\/\/en.wikipedia.org\/wiki\/New_Zealand_property_bubble \"New Zealand property bubble\") (c. 1985–) [Savings and loan crisis](https:\/\/en.wikipedia.org\/wiki\/Savings_and_loan_crisis \"Savings and loan crisis\") (1986–1995) [Black Monday](https:\/\/en.wikipedia.org\/wiki\/Black_Monday_\$1987\$ \"Black Monday (1987)\") (1987) [Friday the 13th mini-crash](https:\/\/en.wikipedia.org\/wiki\/Friday_the_13th_mini-crash \"Friday the 13th mini-crash\") (1989) [Early 1990s recession](https:\/\/en.wikipedia.org\/wiki\/Early_1990s_recession \"Early 1990s recession\") 1990–1991; [Australia](https:\/\/en.wikipedia.org\/wiki\/Early_1990s_recession_in_Australia \"Early 1990s recession in Australia\") [United States](https:\/\/en.wikipedia.org\/wiki\/Early_1990s_recession_in_the_United_States \"Early 1990s recession in the United States\") [1990 oil price shock](https:\/\/en.wikipedia.org\/wiki\/1990_oil_price_shock \"1990 oil price shock\") [Rhode Island banking crisis](https:\/\/en.wikipedia.org\/wiki\/Rhode_Island_banking_crisis \"Rhode Island banking crisis\") (1990–1992) [1991 Indian economic crisis](https:\/\/en.wikipedia.org\/wiki\/1991_Indian_economic_crisis \"1991 Indian economic crisis\") [1990s United States boom](https:\/\/en.wikipedia.org\/wiki\/1990s_United_States_boom \"1990s United States boom\") (1991–2001) [1990s India economic boom](https:\/\/en.wikipedia.org\/wiki\/Economic_liberalisation_in_India \"Economic liberalisation in India\") [Hyperinflation in Zimbabwe](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation_in_Zimbabwe \"Hyperinflation in Zimbabwe\") (1991–present) [Black Wednesday](https:\/\/en.wikipedia.org\/wiki\/Black_Wednesday \"Black Wednesday\") (1992) [1994 bond market crisis](https:\/\/en.wikipedia.org\/wiki\/1994_bond_market_crisis \"1994 bond market crisis\") [1994 Papua New Guinea financial crisis](https:\/\/en.wikipedia.org\/wiki\/1994_Papua_New_Guinea_financial_crisis \"1994 Papua New Guinea financial crisis\") [Dot-com bubble](https:\/\/en.wikipedia.org\/wiki\/Dot-com_bubble \"Dot-com bubble\") 1995–2004; [Stock market downturn of 2002](https:\/\/en.wikipedia.org\/wiki\/Stock_market_downturn_of_2002 \"Stock market downturn of 2002\") [1997 Asian financial crisis](https:\/\/en.wikipedia.org\/wiki\/1997_Asian_financial_crisis \"1997 Asian financial crisis\") [October 27, 1997, mini-crash](https:\/\/en.wikipedia.org\/wiki\/October_27,_1997,_mini-crash \"October 27, 1997, mini-crash\") [Early 2000s recession](https:\/\/en.wikipedia.org\/wiki\/Early_2000s_recession \"Early 2000s recession\") 2001; [9\/11 stock market crash](https:\/\/en.wikipedia.org\/wiki\/Economic_effects_of_the_September_11_attacks \"Economic effects of the September 11 attacks\") [2000s commodities boom](https:\/\/en.wikipedia.org\/wiki\/2000s_commodities_boom \"2000s commodities boom\") (2000–2014) [United States housing bubble](https:\/\/en.wikipedia.org\/wiki\/2000s_United_States_housing_bubble \"2000s United States housing bubble\") (2002–2006) [Canadian property bubble](https:\/\/en.wikipedia.org\/wiki\/Canadian_property_bubble \"Canadian property bubble\") (2002–) [2003 Myanmar banking crisis](https:\/\/en.wikipedia.org\/wiki\/2003_Myanmar_banking_crisis \"2003 Myanmar banking crisis\") [2000s energy crisis](https:\/\/en.wikipedia.org\/wiki\/2000s_energy_crisis \"2000s energy crisis\") (2003–2008) [North Dakota oil boom](https:\/\/en.wikipedia.org\/wiki\/North_Dakota_oil_boom \"North Dakota oil boom\") (2006–2015) [Uranium bubble of 2007](https:\/\/en.wikipedia.org\/wiki\/Uranium_bubble_of_2007 \"Uranium bubble of 2007\") [Great Recession](https:\/\/en.wikipedia.org\/wiki\/Great_Recession \"Great Recession\") 2007–2009; [Australia and New Zealand](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_Oceania \"Great Recession in Oceania\") [Bangladesh, India, Malaysia, Pakistan, and Sri Lanka](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_Asia \"Great Recession in Asia\") [British West Indies](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_South_America \"Great Recession in South America\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_the_Americas \"Great Recession in the Americas\") [South Africa](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_Africa \"Great Recession in Africa\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_Europe#United_Kingdom \"Great Recession in Europe\") [United States](https:\/\/en.wikipedia.org\/wiki\/Great_Recession_in_the_United_States \"Great Recession in the United States\") [2008 financial crisis](https:\/\/en.wikipedia.org\/wiki\/2008_financial_crisis \"2008 financial crisis\") [September](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_September_2008 \"Global financial crisis in September 2008\") [October](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_October_2008 \"Global financial crisis in October 2008\") [November](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_November_2008 \"Global financial crisis in November 2008\") [December](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_December_2008 \"Global financial crisis in December 2008\") [2009](https:\/\/en.wikipedia.org\/wiki\/Global_financial_crisis_in_2009 \"Global financial crisis in 2009\") [Subprime mortgage crisis](https:\/\/en.wikipedia.org\/wiki\/Subprime_mortgage_crisis \"Subprime mortgage crisis\") [2000s U.S. housing market correction](https:\/\/en.wikipedia.org\/wiki\/2000s_United_States_housing_market_correction \"2000s United States housing market correction\") [U.S. bear market of 2007–2009](https:\/\/en.wikipedia.org\/wiki\/United_States_bear_market_of_2007%E2%80%932009 \"United States bear market of 2007–2009\") [2007–2010 U.S. bank failures](https:\/\/en.wikipedia.org\/wiki\/List_of_banks_acquired_or_bankrupted_in_the_United_States_during_the_2008_financial_crisis \"List of banks acquired or bankrupted in the United States during the 2008 financial crisis\") [Corporate debt bubble](https:\/\/en.wikipedia.org\/wiki\/Corporate_debt_bubble \"Corporate debt bubble\") (2008–) [Blue Monday Crash 2009](https:\/\/en.wikipedia.org\/wiki\/Blue_Monday_Crash_2009 \"Blue Monday Crash 2009\") [2010 flash crash](https:\/\/en.wikipedia.org\/wiki\/2010_flash_crash \"2010 flash crash\") [Malaysia Tiger Cub expansion](https:\/\/en.wikipedia.org\/wiki\/Tiger_Cub_Economies \"Tiger Cub Economies\") (2010s) [Australian property bubble](https:\/\/en.wikipedia.org\/wiki\/Australian_property_bubble \"Australian property bubble\") (2010–) [August 2011 stock markets fall](https:\/\/en.wikipedia.org\/wiki\/August_2011_stock_markets_fall \"August 2011 stock markets fall\") [Black Monday](https:\/\/en.wikipedia.org\/wiki\/Black_Monday_\$2011\$ \"Black Monday (2011)\") [2011 Bangladesh share market scam](https:\/\/en.wikipedia.org\/wiki\/2011_Bangladesh_share_market_scam \"2011 Bangladesh share market scam\") [Cryptocurrency bubble](https:\/\/en.wikipedia.org\/wiki\/Cryptocurrency_bubble \"Cryptocurrency bubble\") (2011–) [Puerto Rican government-debt crisis](https:\/\/en.wikipedia.org\/wiki\/Puerto_Rican_government-debt_crisis \"Puerto Rican government-debt crisis\") (2014–2022) [2015–2016 stock market selloff](https:\/\/en.wikipedia.org\/wiki\/2015%E2%80%932016_stock_market_selloff \"2015–2016 stock market selloff\") [Brexit stock market crash](https:\/\/en.wikipedia.org\/wiki\/Economic_effects_of_Brexit \"Economic effects of Brexit\") (2016) [2017 Sri Lankan fuel crisis](https:\/\/en.wikipedia.org\/wiki\/2017_Sri_Lankan_fuel_crisis \"2017 Sri Lankan fuel crisis\") [Ghana banking crisis](https:\/\/en.wikipedia.org\/wiki\/Ghana_banking_crisis \"Ghana banking crisis\") (2017–2018) [Sri Lankan economic crisis](https:\/\/en.wikipedia.org\/wiki\/Sri_Lankan_economic_crisis_\$2019%E2%80%932024\$ \"Sri Lankan economic crisis (2019–2024)\") (2019–2024) [COVID-19 recession](https:\/\/en.wikipedia.org\/wiki\/COVID-19_recession \"COVID-19 recession\") 2020–2022; [2020 stock market crash](https:\/\/en.wikipedia.org\/wiki\/2020_stock_market_crash \"2020 stock market crash\") [financial market impact](https:\/\/en.wikipedia.org\/wiki\/Financial_market_impact_of_the_COVID-19_pandemic \"Financial market impact of the COVID-19 pandemic\") [sectoral impacts](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic \"Economic impact of the COVID-19 pandemic\") [shortages](https:\/\/en.wikipedia.org\/wiki\/Shortages_related_to_the_COVID-19_pandemic \"Shortages related to the COVID-19 pandemic\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_Canada \"Economic impact of the COVID-19 pandemic in Canada\") [India](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_India \"Economic impact of the COVID-19 pandemic in India\") [Malaysia](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_Malaysia \"Economic impact of the COVID-19 pandemic in Malaysia\") [New Zealand](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_New_Zealand \"Economic impact of the COVID-19 pandemic in New Zealand\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_the_United_Kingdom \"Economic impact of the COVID-19 pandemic in the United Kingdom\") [United States](https:\/\/en.wikipedia.org\/wiki\/Economic_impact_of_the_COVID-19_pandemic_in_the_United_States \"Economic impact of the COVID-19 pandemic in the United States\") [2020s commodities boom](https:\/\/en.wikipedia.org\/wiki\/2020s_commodities_boom \"2020s commodities boom\") [Global energy crisis](https:\/\/en.wikipedia.org\/wiki\/Global_energy_crisis_\$2021%E2%80%932023\$ \"Global energy crisis (2021–2023)\") 2021–2023; [2021 United Kingdom natural gas supplier crisis](https:\/\/en.wikipedia.org\/wiki\/2021_United_Kingdom_natural_gas_supplier_crisis \"2021 United Kingdom natural gas supplier crisis\") [regional effects](https:\/\/en.wikipedia.org\/wiki\/Regional_effects_of_the_2021%E2%80%932023_global_energy_crisis \"Regional effects of the 2021–2023 global energy crisis\") [2021–2023 global supply chain crisis](https:\/\/en.wikipedia.org\/wiki\/2021%E2%80%932023_global_supply_chain_crisis \"2021–2023 global supply chain crisis\") [2021–2023 inflation surge](https:\/\/en.wikipedia.org\/wiki\/2021%E2%80%932023_inflation_surge \"2021–2023 inflation surge\") [Pakistani economic crisis](https:\/\/en.wikipedia.org\/wiki\/Pakistani_economic_crisis_\$2021%E2%80%932024\$ \"Pakistani economic crisis (2021–2024)\") (2021–2024) [2022 stock market decline]() [2022–2023 global food crises](https:\/\/en.wikipedia.org\/wiki\/2022%E2%80%932023_global_food_crises \"2022–2023 global food crises\") [2023 United Kingdom recession](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_Kingdom \"List of recessions in the United Kingdom\") [2023 United States banking crisis](https:\/\/en.wikipedia.org\/wiki\/2023_United_States_banking_crisis \"2023 United States banking crisis\") [2025 stock market crash](https:\/\/en.wikipedia.org\/wiki\/2025_stock_market_crash \"2025 stock market crash\") |\n| Countries and sectors | [Australia](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Australia \"Economic history of Australia\") [rail transport](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Australia \"History of rail transport in Australia\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_Australia \"Slavery in Australia\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_Australia \"Whaling in Australia\")\/[Western Australia](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_Western_Australia \"Whaling in Western Australia\") [Canada](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Canada \"Economic history of Canada\") [agriculture](https:\/\/en.wikipedia.org\/wiki\/History_of_agriculture_in_Canada \"History of agriculture in Canada\") [currencies](https:\/\/en.wikipedia.org\/wiki\/History_of_Canadian_currencies \"History of Canadian currencies\") [early banking system](https:\/\/en.wikipedia.org\/wiki\/Early_Canadian_banking_system \"Early Canadian banking system\") [list of recessions](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_Canada \"List of recessions in Canada\") [petroleum industry](https:\/\/en.wikipedia.org\/wiki\/History_of_the_petroleum_industry_in_Canada \"History of the petroleum industry in Canada\") [rail transport](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Canada \"History of rail transport in Canada\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_Canada \"Slavery in Canada\") [technological and industrial](https:\/\/en.wikipedia.org\/wiki\/Technological_and_industrial_history_of_Canada \"Technological and industrial history of Canada\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_Canada \"Whaling in Canada\")\/[Pacific Northwest](https:\/\/en.wikipedia.org\/wiki\/Whaling_on_the_Pacific_Northwest_Coast \"Whaling on the Pacific Northwest Coast\") [Ghana](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Ghana \"Economic history of Ghana\") [India](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_India \"Economic history of India\") [agriculture](https:\/\/en.wikipedia.org\/wiki\/History_of_agriculture_in_the_Indian_subcontinent \"History of agriculture in the Indian subcontinent\") [Company rule](https:\/\/en.wikipedia.org\/wiki\/Economy_of_India_under_Company_rule \"Economy of India under Company rule\") [maritime](https:\/\/en.wikipedia.org\/wiki\/Indian_maritime_history \"Indian maritime history\") [British Raj](https:\/\/en.wikipedia.org\/wiki\/Economy_of_India_under_the_British_Raj \"Economy of India under the British Raj\") [Deindustrialisation](https:\/\/en.wikipedia.org\/wiki\/De-industrialisation_of_India \"De-industrialisation of India\") [salt tax](https:\/\/en.wikipedia.org\/wiki\/History_of_the_salt_tax_in_British_India \"History of the salt tax in British India\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_India \"Slavery in India\") [Malaysia](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Malaysia \"Economic history of Malaysia\") [New Zealand](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_New_Zealand \"Economic history of New Zealand\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_New_Zealand \"Whaling in New Zealand\") [Nigeria](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Nigeria \"Economic history of Nigeria\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_Nigeria \"Slavery in Nigeria\") [Pakistan](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Pakistan \"Economic history of Pakistan\") [maritime](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_Pakistan \"Maritime history of Pakistan\") [rail transport](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Pakistan \"History of rail transport in Pakistan\") [South Africa](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_South_Africa \"Economic history of South Africa\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_South_Africa \"Slavery in South Africa\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_South_Africa \"Whaling in South Africa\") [Uganda](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Uganda \"Economic history of Uganda\") [United Kingdom](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_the_United_Kingdom \"Economic history of the United Kingdom\") [Agricultural Revolution](https:\/\/en.wikipedia.org\/wiki\/British_Agricultural_Revolution \"British Agricultural Revolution\") [Atlantic slave trade](https:\/\/en.wikipedia.org\/wiki\/Atlantic_slave_trade \"Atlantic slave trade\") [banking](https:\/\/en.wikipedia.org\/wiki\/History_of_banking_in_the_United_Kingdom \"History of banking in the United Kingdom\") [British Empire](https:\/\/en.wikipedia.org\/wiki\/Economy_of_the_British_Empire \"Economy of the British Empire\") [English fiscal system](https:\/\/en.wikipedia.org\/wiki\/History_of_the_English_fiscal_system \"History of the English fiscal system\") [Interwar unemployment and poverty](https:\/\/en.wikipedia.org\/wiki\/Interwar_unemployment_and_poverty_in_the_United_Kingdom \"Interwar unemployment and poverty in the United Kingdom\") [list of recessions](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_Kingdom \"List of recessions in the United Kingdom\") [maritime](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_the_United_Kingdom \"Maritime history of the United Kingdom\")\/[England](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_England \"Maritime history of England\")\/[Scotland](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_Scotland \"Maritime history of Scotland\") [Middle Ages England](https:\/\/en.wikipedia.org\/wiki\/Economy_of_England_in_the_Middle_Ages \"Economy of England in the Middle Ages\")\/[agriculture](https:\/\/en.wikipedia.org\/wiki\/Economics_of_English_agriculture_in_the_Middle_Ages \"Economics of English agriculture in the Middle Ages\") [national debt](https:\/\/en.wikipedia.org\/wiki\/History_of_the_British_national_debt \"History of the British national debt\") [Scotland](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Scotland \"Economic history of Scotland\")\/[agriculture](https:\/\/en.wikipedia.org\/wiki\/History_of_agriculture_in_Scotland \"History of agriculture in Scotland\")\/[Middle Ages](https:\/\/en.wikipedia.org\/wiki\/Economy_of_Scotland_in_the_Middle_Ages \"Economy of Scotland in the Middle Ages\") [rail transport](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain \"History of rail transport in Great Britain\")\/[pre–1830](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain_to_1830 \"History of rail transport in Great Britain to 1830\")\/[1830–1922](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain_1830%E2%80%931922 \"History of rail transport in Great Britain 1830–1922\")\/[1923–1947](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain_1923%E2%80%931947 \"History of rail transport in Great Britain 1923–1947\")\/[1948–1994](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain_1948%E2%80%931994 \"History of rail transport in Great Britain 1948–1994\")\/[1995–present](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transport_in_Great_Britain_1995_to_date \"History of rail transport in Great Britain 1995 to date\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_Britain \"Slavery in Britain\") [trade unions](https:\/\/en.wikipedia.org\/wiki\/History_of_trade_unions_in_the_United_Kingdom \"History of trade unions in the United Kingdom\") [Victorian era](https:\/\/en.wikipedia.org\/wiki\/Economy,_industry,_and_trade_of_the_Victorian_era \"Economy, industry, and trade of the Victorian era\") [Wales](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Wales \"Economic history of Wales\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_the_United_Kingdom \"Whaling in the United Kingdom\")\/[Scotland](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_Scotland \"Whaling in Scotland\") [United States](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_the_United_States \"Economic history of the United States\") [agriculture](https:\/\/en.wikipedia.org\/wiki\/History_of_agriculture_in_the_United_States \"History of agriculture in the United States\") [banking](https:\/\/en.wikipedia.org\/wiki\/History_of_banking_in_the_United_States \"History of banking in the United States\")\/[colonial-era credit](https:\/\/en.wikipedia.org\/wiki\/Credit_in_the_Thirteen_Colonies \"Credit in the Thirteen Colonies\")\/[cooperatives](https:\/\/en.wikipedia.org\/wiki\/History_of_cooperatives_in_the_United_States \"History of cooperatives in the United States\")\/[investment banking](https:\/\/en.wikipedia.org\/wiki\/History_of_investment_banking_in_the_United_States \"History of investment banking in the United States\")\/[wildcat banking](https:\/\/en.wikipedia.org\/wiki\/Wildcat_banking \"Wildcat banking\") [business](https:\/\/en.wikipedia.org\/wiki\/American_business_history \"American business history\") [central banking](https:\/\/en.wikipedia.org\/wiki\/History_of_central_banking_in_the_United_States \"History of central banking in the United States\") [coal mining](https:\/\/en.wikipedia.org\/wiki\/History_of_coal_mining_in_the_United_States \"History of coal mining in the United States\") [indentured servitude](https:\/\/en.wikipedia.org\/wiki\/Indentured_servitude_in_British_America \"Indentured servitude in British America\") [iron and steel industry](https:\/\/en.wikipedia.org\/wiki\/History_of_the_iron_and_steel_industry_in_the_United_States \"History of the iron and steel industry in the United States\") [labor](https:\/\/en.wikipedia.org\/wiki\/Labor_history_of_the_United_States \"Labor history of the United States\") [list of economic expansions](https:\/\/en.wikipedia.org\/wiki\/List_of_economic_expansions_in_the_United_States \"List of economic expansions in the United States\") [list of recessions](https:\/\/en.wikipedia.org\/wiki\/List_of_recessions_in_the_United_States \"List of recessions in the United States\") [lumber industry](https:\/\/en.wikipedia.org\/wiki\/History_of_the_lumber_industry_in_the_United_States \"History of the lumber industry in the United States\") [maritime](https:\/\/en.wikipedia.org\/wiki\/History_of_the_United_States_Merchant_Marine \"History of the United States Merchant Marine\")\/[colonial-era](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_Colonial_America \"Maritime history of Colonial America\")\/[1776–1799](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_the_United_States_\$1776%E2%80%931799\$ \"Maritime history of the United States (1776–1799)\")\/[1800–1899](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_the_United_States_\$1800%E2%80%931899\$ \"Maritime history of the United States (1800–1899)\")\/[1900–1999](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_the_United_States_\$1900%E2%80%931999\$ \"Maritime history of the United States (1900–1999)\")\/[2000–present](https:\/\/en.wikipedia.org\/wiki\/Maritime_history_of_the_United_States_\$2000%E2%80%93present\$ \"Maritime history of the United States (2000–present)\") [monetary policy](https:\/\/en.wikipedia.org\/wiki\/History_of_monetary_policy_in_the_United_States \"History of monetary policy in the United States\") [poverty](https:\/\/en.wikipedia.org\/wiki\/History_of_poverty_in_the_United_States \"History of poverty in the United States\") [petroleum industry](https:\/\/en.wikipedia.org\/wiki\/History_of_the_petroleum_industry_in_the_United_States \"History of the petroleum industry in the United States\")\/[oil shale](https:\/\/en.wikipedia.org\/wiki\/History_of_the_oil_shale_industry_in_the_United_States \"History of the oil shale industry in the United States\") [public debt](https:\/\/en.wikipedia.org\/wiki\/History_of_the_United_States_public_debt \"History of the United States public debt\") [rail transportation](https:\/\/en.wikipedia.org\/wiki\/History_of_rail_transportation_in_the_United_States \"History of rail transportation in the United States\") [slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_the_United_States \"Slavery in the United States\")\/[colonial-era slavery](https:\/\/en.wikipedia.org\/wiki\/Slavery_in_the_colonial_history_of_the_United_States \"Slavery in the colonial history of the United States\")\/[forced labor](https:\/\/en.wikipedia.org\/wiki\/History_of_forced_labor_in_the_United_States \"History of forced labor in the United States\")\/[slave trade](https:\/\/en.wikipedia.org\/wiki\/Slave_trade_in_the_United_States \"Slave trade in the United States\")\/[slave markets](https:\/\/en.wikipedia.org\/wiki\/Slave_markets_and_slave_jails_in_the_United_States \"Slave markets and slave jails in the United States\") [tariffs](https:\/\/en.wikipedia.org\/wiki\/History_of_tariffs_in_the_United_States \"History of tariffs in the United States\") [taxation](https:\/\/en.wikipedia.org\/wiki\/History_of_taxation_in_the_United_States \"History of taxation in the United States\") [technological and industrial](https:\/\/en.wikipedia.org\/wiki\/Technological_and_industrial_history_of_the_United_States \"Technological and industrial history of the United States\") [United States dollar](https:\/\/en.wikipedia.org\/wiki\/History_of_the_United_States_dollar \"History of the United States dollar\") [whaling](https:\/\/en.wikipedia.org\/wiki\/Whaling_in_the_United_States \"Whaling in the United States\") [Zimbabwe](https:\/\/en.wikipedia.org\/wiki\/Economic_history_of_Zimbabwe \"Economic history of Zimbabwe\") |\n| [Business cycle](https:\/\/en.wikipedia.org\/wiki\/Business_cycle \"Business cycle\") topics | [Aggregate demand](https:\/\/en.wikipedia.org\/wiki\/Aggregate_demand \"Aggregate demand\")\/[Supply](https:\/\/en.wikipedia.org\/wiki\/Aggregate_supply \"Aggregate supply\") [Effective demand](https:\/\/en.wikipedia.org\/wiki\/Effective_demand \"Effective demand\") [General glut](https:\/\/en.wikipedia.org\/wiki\/General_glut \"General glut\") [Model](https:\/\/en.wikipedia.org\/wiki\/AD%E2%80%93AS_model \"AD–AS model\") [Overproduction](https:\/\/en.wikipedia.org\/wiki\/Overproduction \"Overproduction\") [Paradox of thrift](https:\/\/en.wikipedia.org\/wiki\/Paradox_of_thrift \"Paradox of thrift\") [Price-and-wage stickiness](https:\/\/en.wikipedia.org\/wiki\/Nominal_rigidity \"Nominal rigidity\") [Underconsumption](https:\/\/en.wikipedia.org\/wiki\/Underconsumption \"Underconsumption\") [Inflation](https:\/\/en.wikipedia.org\/wiki\/Inflation \"Inflation\") and [unemployment](https:\/\/en.wikipedia.org\/wiki\/Unemployment \"Unemployment\") [Chronic](https:\/\/en.wikipedia.org\/wiki\/Chronic_inflation \"Chronic inflation\") [Classical dichotomy](https:\/\/en.wikipedia.org\/wiki\/Classical_dichotomy \"Classical dichotomy\") [Debasement](https:\/\/en.wikipedia.org\/wiki\/Debasement \"Debasement\") [Debt monetization](https:\/\/en.wikipedia.org\/wiki\/Debt_monetization \"Debt monetization\") [Demand-pull](https:\/\/en.wikipedia.org\/wiki\/Demand-pull_inflation \"Demand-pull inflation\")\/[cost-push](https:\/\/en.wikipedia.org\/wiki\/Cost-push_inflation \"Cost-push inflation\")\/[built-in inflation](https:\/\/en.wikipedia.org\/wiki\/Inertial_inflation \"Inertial inflation\") [Deflation](https:\/\/en.wikipedia.org\/wiki\/Deflation \"Deflation\") [Disinflation](https:\/\/en.wikipedia.org\/wiki\/Disinflation \"Disinflation\") [Full employment](https:\/\/en.wikipedia.org\/wiki\/Full_employment \"Full employment\") [Hyperinflation](https:\/\/en.wikipedia.org\/wiki\/Hyperinflation \"Hyperinflation\") [Money supply](https:\/\/en.wikipedia.org\/wiki\/Money_supply \"Money supply\")\/[demand](https:\/\/en.wikipedia.org\/wiki\/Demand_for_money \"Demand for money\") [NAIRU](https:\/\/en.wikipedia.org\/wiki\/NAIRU \"NAIRU\") [Natural rate of unemployment](https:\/\/en.wikipedia.org\/wiki\/Natural_rate_of_unemployment \"Natural rate of unemployment\") [Neutrality of money](https:\/\/en.wikipedia.org\/wiki\/Neutrality_of_money \"Neutrality of money\") [Phillips curve](https:\/\/en.wikipedia.org\/wiki\/Phillips_curve \"Phillips curve\") [Price level](https:\/\/en.wikipedia.org\/wiki\/Price_level \"Price level\") [Real and nominal value](https:\/\/en.wikipedia.org\/wiki\/Real_and_nominal_value \"Real and nominal value\") [Sahm rule](https:\/\/en.wikipedia.org\/wiki\/Sahm_rule \"Sahm rule\") [Velocity of money](https:\/\/en.wikipedia.org\/wiki\/Velocity_of_money \"Velocity of money\") [Expansion](https:\/\/en.wikipedia.org\/wiki\/Economic_expansion \"Economic expansion\") [Miracle](https:\/\/en.wikipedia.org\/wiki\/Economic_miracle \"Economic miracle\") [Recovery](https:\/\/en.wikipedia.org\/wiki\/Economic_recovery \"Economic recovery\") [Stagnation](https:\/\/en.wikipedia.org\/wiki\/Economic_stagnation \"Economic stagnation\") [Interest rate](https:\/\/en.wikipedia.org\/wiki\/Interest_rate \"Interest rate\") [Nominal interest rate](https:\/\/en.wikipedia.org\/wiki\/Nominal_interest_rate \"Nominal interest rate\") [Real interest rate](https:\/\/en.wikipedia.org\/wiki\/Real_interest_rate \"Real interest rate\") [Yield curve](https:\/\/en.wikipedia.org\/wiki\/Yield_curve \"Yield curve\")\/[Inverted](https:\/\/en.wikipedia.org\/wiki\/Inverted_yield_curve \"Inverted yield curve\") [Recession](https:\/\/en.wikipedia.org\/wiki\/Recession \"Recession\") [Balance sheet](https:\/\/en.wikipedia.org\/wiki\/Balance_sheet_recession \"Balance sheet recession\") [Depression](https:\/\/en.wikipedia.org\/wiki\/Economic_depression \"Economic depression\") [Global](https:\/\/en.wikipedia.org\/wiki\/Global_recession \"Global recession\") [Rolling](https:\/\/en.wikipedia.org\/wiki\/Rolling_recession \"Rolling recession\") [Shapes](https:\/\/en.wikipedia.org\/wiki\/Recession_shapes \"Recession shapes\") [Stagflation](https:\/\/en.wikipedia.org\/wiki\/Stagflation \"Stagflation\") [Shock](https:\/\/en.wikipedia.org\/wiki\/Shock_\$economics\$ \"Shock (economics)\") [Demand](https:\/\/en.wikipedia.org\/wiki\/Demand_shock \"Demand shock\") [Supply](https:\/\/en.wikipedia.org\/wiki\/Supply_shock \"Supply shock\") |\n| [Credit cycle](https:\/\/en.wikipedia.org\/wiki\/Credit_cycle \"Credit cycle\") topics | [Financial bubble](https:\/\/en.wikipedia.org\/wiki\/Economic_bubble \"Economic bubble\") [Commodity booms](https:\/\/en.wikipedia.org\/wiki\/List_of_commodity_booms \"List of commodity booms\")\/[diamond rush](https:\/\/en.wikipedia.org\/wiki\/Diamond_rush \"Diamond rush\")\/[gold rush](https:\/\/en.wikipedia.org\/wiki\/Gold_rush \"Gold rush\")\/[oil boom](https:\/\/en.wikipedia.org\/wiki\/Oil_boom \"Oil boom\") [Real-estate bubble](https:\/\/en.wikipedia.org\/wiki\/Real-estate_bubble \"Real-estate bubble\")\/[housing bubble](https:\/\/en.wikipedia.org\/wiki\/Housing_bubble \"Housing bubble\")\/[boomtown](https:\/\/en.wikipedia.org\/wiki\/Boomtown \"Boomtown\")\/[ghost town](https:\/\/en.wikipedia.org\/wiki\/Ghost_town \"Ghost town\") [Speculation](https:\/\/en.wikipedia.org\/wiki\/Speculation \"Speculation\") [Stock market bubble](https:\/\/en.wikipedia.org\/wiki\/Stock_market_bubble \"Stock market bubble\") [Financial crisis](https:\/\/en.wikipedia.org\/wiki\/Financial_crisis \"Financial crisis\") [Bank run](https:\/\/en.wikipedia.org\/wiki\/Bank_run \"Bank run\")\/[bank failure](https:\/\/en.wikipedia.org\/wiki\/Bank_failure \"Bank failure\") [Commodity price shocks](https:\/\/en.wikipedia.org\/wiki\/Commodity_price_shocks \"Commodity price shocks\") [Credit crunch](https:\/\/en.wikipedia.org\/wiki\/Credit_crunch \"Credit crunch\") [Currency crisis](https:\/\/en.wikipedia.org\/wiki\/Currency_crisis \"Currency crisis\") [Debt crisis](https:\/\/en.wikipedia.org\/wiki\/Debt_crisis \"Debt crisis\") [Energy crisis](https:\/\/en.wikipedia.org\/wiki\/Energy_crisis \"Energy crisis\") [Liquidity crisis](https:\/\/en.wikipedia.org\/wiki\/Liquidity_crisis \"Liquidity crisis\")\/[accounting](https:\/\/en.wikipedia.org\/wiki\/Accounting_liquidity \"Accounting liquidity\")\/[capital](https:\/\/en.wikipedia.org\/wiki\/Liquid_capital \"Liquid capital\")\/[funding](https:\/\/en.wikipedia.org\/wiki\/Funding_liquidity \"Funding liquidity\")\/[market](https:\/\/en.wikipedia.org\/wiki\/Market_liquidity \"Market liquidity\") [Minsky moment](https:\/\/en.wikipedia.org\/wiki\/Minsky_moment \"Minsky moment\")\/[leverage cycle](https:\/\/en.wikipedia.org\/wiki\/Leverage_cycle \"Leverage cycle\") [Stock market crash](https:\/\/en.wikipedia.org\/wiki\/Stock_market_crash \"Stock market crash\")\/[Flash crash](https:\/\/en.wikipedia.org\/wiki\/Flash_crash \"Flash crash\") [Social contagion](https:\/\/en.wikipedia.org\/wiki\/Social_contagion \"Social contagion\") [Financial contagion](https:\/\/en.wikipedia.org\/wiki\/Financial_contagion \"Financial contagion\") [Irrational exuberance](https:\/\/en.wikipedia.org\/wiki\/Irrational_exuberance \"Irrational exuberance\") [Market trend](https:\/\/en.wikipedia.org\/wiki\/Market_trend \"Market trend\") Proposed bubbles [AI bubble](https:\/\/en.wikipedia.org\/wiki\/AI_bubble \"AI bubble\")\/[AI boom](https:\/\/en.wikipedia.org\/wiki\/AI_boom \"AI boom\")\/[Fourth Industrial Revolution](https:\/\/en.wikipedia.org\/wiki\/Fourth_Industrial_Revolution \"Fourth Industrial Revolution\")\/[Imagination Age](https:\/\/en.wikipedia.org\/wiki\/Imagination_Age \"Imagination Age\") [Carbon bubble](https:\/\/en.wikipedia.org\/wiki\/Carbon_bubble \"Carbon bubble\")\/[Age of Oil](https:\/\/en.wikipedia.org\/wiki\/Age_of_Oil \"Age of Oil\")\/[Peak oil](https:\/\/en.wikipedia.org\/wiki\/Peak_oil \"Peak oil\") [Everything bubble](https:\/\/en.wikipedia.org\/wiki\/Everything_bubble \"Everything bubble\") [Green bubble](https:\/\/en.wikipedia.org\/wiki\/Green_bubble \"Green bubble\") [Social media stock bubble](https:\/\/en.wikipedia.org\/wiki\/Social_media_stock_bubble \"Social media stock bubble\") [Unicorn bubble](https:\/\/en.wikipedia.org\/wiki\/Unicorn_bubble \"Unicorn bubble\") [U.S. higher education bubble](https:\/\/en.wikipedia.org\/wiki\/Higher_education_bubble_in_the_United_States \"Higher education bubble in the United States\") |\n\n![](https:\/\/en.wikipedia.org\/wiki\/Special:CentralAutoLogin\/start?useformat=desktop&type=1x1&usesul3=1)\n\nRetrieved from \"<https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&oldid=1335863238>\"\n\n[Categories](https:\/\/en.wikipedia.org\/wiki\/Help:Category \"Help:Category\"):\n\n- [2022 in economic history](https:\/\/en.wikipedia.org\/wiki\/Category:2022_in_economic_history \"Category:2022 in economic history\")\n- [2022 in the United States](https:\/\/en.wikipedia.org\/wiki\/Category:2022_in_the_United_States \"Category:2022 in the United States\")\n- [Stock market crashes in the United States](https:\/\/en.wikipedia.org\/wiki\/Category:Stock_market_crashes_in_the_United_States \"Category:Stock market crashes in the United States\")\n\nHidden categories:\n\n- [Articles with short 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Wikipedia® is a registered trademark of the [Wikimedia Foundation, Inc.](https:\/\/wikimediafoundation.org\/), a non-profit organization.\n\n- [Privacy policy](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Privacy_policy)\n- [About Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:About)\n- [Disclaimers](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:General_disclaimer)\n- [Contact Wikipedia](https:\/\/en.wikipedia.org\/wiki\/Wikipedia:Contact_us)\n- [Legal & safety contacts](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Legal:Wikimedia_Foundation_Legal_and_Safety_Contact_Information)\n- [Code of Conduct](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Universal_Code_of_Conduct)\n- [Developers](https:\/\/developer.wikimedia.org\/)\n- [Statistics](https:\/\/stats.wikimedia.org\/#\/en.wikipedia.org)\n- [Cookie statement](https:\/\/foundation.wikimedia.org\/wiki\/Special:MyLanguage\/Policy:Cookie_statement)\n- [Mobile view](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&mobileaction=toggle_view_mobile)\n\n- [![Wikimedia Foundation](https:\/\/en.wikipedia.org\/static\/images\/footer\/wikimedia.svg)](https:\/\/www.wikimedia.org\/)\n- [![Powered by MediaWiki](https:\/\/en.wikipedia.org\/w\/resources\/assets\/mediawiki_compact.svg)](https:\/\/www.mediawiki.org\/)\n\nSearch\n\nToggle the table of contents\n\n2022 stock market decline\n\nAdd languages\n\n[Add topic](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline)","attrs_readable_markdown":"From Wikipedia, the free encyclopedia\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/f\/f5\/Dow_Jones_Industrial_Average.webp\/330px-Dow_Jones_Industrial_Average.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:Dow_Jones_Industrial_Average.webp)\n\n[Dow Jones Industrial Average](https:\/\/en.wikipedia.org\/wiki\/Dow_Jones_Industrial_Average \"Dow Jones Industrial Average\") (1970–2023)\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/8\/80\/NASDAQ_Composite_Index.webp\/330px-NASDAQ_Composite_Index.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:NASDAQ_Composite_Index.webp)\n\n[Nasdaq Composite Index](https:\/\/en.wikipedia.org\/wiki\/Nasdaq_Composite_Index \"Nasdaq Composite Index\") (1980–2023)\n\n[![](https:\/\/upload.wikimedia.org\/wikipedia\/commons\/thumb\/f\/ff\/S_%26_P_500.webp\/330px-S_%26_P_500.webp.png)](https:\/\/en.wikipedia.org\/wiki\/File:S_%26_P_500.webp)\n\n[S\\&P 500](https:\/\/en.wikipedia.org\/wiki\/S%26P_500 \"S&P 500\") (1970–2023)\n\nThe **2022 stock market decline** was a [bear market](https:\/\/en.wikipedia.org\/wiki\/Bear_market \"Bear market\") that included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the [2021–2023 inflation surge](https:\/\/en.wikipedia.org\/wiki\/2021%E2%80%932023_inflation_surge \"2021–2023 inflation surge\") and the resulting increases in interest rates, combined with the worst year for the bond market since  [1994](https:\/\/en.wikipedia.org\/wiki\/1994_bond_market_crisis \"1994 bond market crisis\") with fears of a global [recession](https:\/\/en.wikipedia.org\/wiki\/Recession \"Recession\") due to a decline in [economic indicators](https:\/\/en.wikipedia.org\/wiki\/Economic_indicator \"Economic indicator\") and an [inverted yield curve](https:\/\/en.wikipedia.org\/wiki\/Inverted_yield_curve \"Inverted yield curve\"), exacerbated by [supply chain](https:\/\/en.wikipedia.org\/wiki\/Supply_chain \"Supply chain\") disruptions due to the [Russian invasion of Ukraine](https:\/\/en.wikipedia.org\/wiki\/Russian_invasion_of_Ukraine \"Russian invasion of Ukraine\") and uncertainty over the long-term effects of the [COVID-19 pandemic](https:\/\/en.wikipedia.org\/wiki\/COVID-19_pandemic \"COVID-19 pandemic\") on the economy.[\\[1\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-1)[\\[2\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-2)\n\nIn 2021 many [central banks](https:\/\/en.wikipedia.org\/wiki\/Central_bank \"Central bank\") undertook a [zero interest rate policy](https:\/\/en.wikipedia.org\/wiki\/Zero_interest_rate_policy \"Zero interest rate policy\"), assuming the rise in inflation to be \"temporary\" or \"transitory\". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The [Federal Reserve](https:\/\/en.wikipedia.org\/wiki\/Federal_Reserve \"Federal Reserve\") raised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s.[\\[3\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-3) It also reintroduced a policy of [quantitative tightening](https:\/\/en.wikipedia.org\/wiki\/Quantitative_tightening \"Quantitative tightening\") in June 2022.[\\[4\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-4) The [European Central Bank](https:\/\/en.wikipedia.org\/wiki\/European_Central_Bank \"European Central Bank\") raised rates 10 consecutive times during the same period.[\\[5\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-5)\n\nIn the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the [COVID-19 recession](https:\/\/en.wikipedia.org\/wiki\/COVID-19_recession \"COVID-19 recession\"); decreasing at an annual rate of 1.0% in the first quarter of 2022.[\\[6\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-6) GDP growth rates in the European Union also slowed significantly in the first half of 2022.[\\[7\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-7)\n\nBut the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the [AI boom](https:\/\/en.wikipedia.org\/wiki\/AI_boom \"AI boom\"), predictions of lower or stable interest rates, and predictions of a [soft landing](https:\/\/en.wikipedia.org\/wiki\/Soft_landing_\$economics\$ \"Soft landing (economics)\").[\\[8\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-8) By 2023 and 2024, many stock market indices reached all-time highs.[\\[9\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-9)\n\n## Stock market performance\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=1 \"Edit section: Stock market performance\")\\]\n\nIn 2022 the [MSCI World](https:\/\/en.wikipedia.org\/wiki\/MSCI_World \"MSCI World\") Index index, which tracks [developed markets](https:\/\/en.wikipedia.org\/wiki\/Developed_market \"Developed market\"), was down 17.7%. The [emerging markets](https:\/\/en.wikipedia.org\/wiki\/Emerging_market \"Emerging market\") index declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea.[\\[10\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-10)\n\nThe [S\\&P 500](https:\/\/en.wikipedia.org\/wiki\/S%26P_500 \"S&P 500\") peaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022.[\\[11\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-11)[\\[12\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-12)\n\nIn the first 6 months of 2022, the S\\&P 500 fell 21%, the worst 6-month start to a year since 1970.[\\[13\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-13)[\\[14\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-14)\n\nOn September 13, 2022, the S\\&P 500 declined by 4.32% in its largest single-day drop since June 2020.[\\[15\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-15)[\\[16\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-16)\n\nThe S\\&P 500 had the worst results since 2008, with a decline of 19% for the year.[\\[17\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-17) The Nasdaq Composite fell 33%.[\\[18\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-losses-18)\n\nStocks in Europe outperformed on the year due to lower valuations. The [STOXX Europe 600](https:\/\/en.wikipedia.org\/wiki\/STOXX_Europe_600 \"STOXX Europe 600\") lost 12% on the year, the [DAX](https:\/\/en.wikipedia.org\/wiki\/DAX \"DAX\") lost 12.5%, and the [CAC 40](https:\/\/en.wikipedia.org\/wiki\/CAC_40 \"CAC 40\") lost 9.5%.[\\[18\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-losses-18)\n\nThe [Nikkei 225](https:\/\/en.wikipedia.org\/wiki\/Nikkei_225 \"Nikkei 225\") started the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%.[\\[19\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-19) However, by 2024, it hit all time highs.[\\[20\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-20)\n\nBy November 2022 the [Hang Seng Index](https:\/\/en.wikipedia.org\/wiki\/Hang_Seng_Index \"Hang Seng Index\") was down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when [Xi Jinping](https:\/\/en.wikipedia.org\/wiki\/Xi_Jinping \"Xi Jinping\") won a third tenure of the [general secretaryship](https:\/\/en.wikipedia.org\/wiki\/General_secretaryship_of_Xi_Jinping \"General secretaryship of Xi Jinping\"), and investors feared that he would prioritize state-owned firms over private companies.[\\[21\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-21) The decline was also due to concerns over the economic effects of [Xi Jinping](https:\/\/en.wikipedia.org\/wiki\/Xi_Jinping \"Xi Jinping\")'s [Zero-COVID](https:\/\/en.wikipedia.org\/wiki\/Zero-COVID \"Zero-COVID\") strategy and its regulatory crackdown and fines on companies such as [Ant Group](https:\/\/en.wikipedia.org\/wiki\/Ant_Group \"Ant Group\").[\\[22\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-22)\n\n## Cryptocurrency performance\n\\[[edit](https:\/\/en.wikipedia.org\/w\/index.php?title=2022_stock_market_decline&action=edit&section=6 \"Edit section: Cryptocurrency performance\")\\]\n\nAs part of the global decline in most risky assets, the price of [Bitcoin](https:\/\/en.wikipedia.org\/wiki\/Bitcoin \"Bitcoin\") fell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in *[The Wall Street Journal](https:\/\/en.wikipedia.org\/wiki\/The_Wall_Street_Journal \"The Wall Street Journal\")* published that month was titled \"The Crypto Party Is Over\".[\\[23\\]](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_note-23) However, by 2024, many cryptocurrencies reached all-time highs.\n\n1. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-1)**\n   Vega, Nicolas (June 14, 2022). [\"Stocks have officially entered bear market territory—here's what that means and what you should do\"](https:\/\/www.cnbc.com\/2022\/06\/14\/what-experts-say-to-do-during-a-bear-market.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n2. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-2)**\n   Toews, Phillip (March 14, 2022). [\"Opinion: Ukraine War Likely Has Triggered Lasting Bear Market\"](https:\/\/www.barrons.com\/advisor\/articles\/opinion-ukraine-war-bear-stock-market-51647285190). *[Barron's](https:\/\/en.wikipedia.org\/wiki\/Barron%27s \"Barron's\")*.\n3. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-3)**\n   Rodini, Laura (April 12, 2024). [\"A timeline of the Fed's '22–'23 rate hikes & what caused them\"](https:\/\/www.thestreet.com\/fed\/fed-rate-hikes-2022-2023-timeline-discussion). *[TheStreet.com](https:\/\/en.wikipedia.org\/wiki\/TheStreet.com \"TheStreet.com\")*.\n4. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-4)**\n   Cordes, Lucy; Ferris, Erin (June 14, 2024). [\"Who Buys Treasuries When the Fed Reduces its Holdings\"](https:\/\/www.federalreserve.gov\/econres\/notes\/feds-notes\/who-buys-treasuries-when-the-fed-reduces-its-holdings-20240614.html). *[Federal Reserve](https:\/\/en.wikipedia.org\/wiki\/Federal_Reserve \"Federal Reserve\")*.\n5. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-5)**\n   Reid, Jenni (October 26, 2023). [\"European Central Bank holds interest rates steady after 10 consecutive hikes\"](https:\/\/www.cnbc.com\/2023\/10\/26\/european-central-bank-holds-interest-rates-steady-after-10-consecutive-hikes.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n6. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-6)**\n   [\"Real Gross Domestic Product\"](https:\/\/fred.stlouisfed.org\/series\/A191RL1Q225SBEA).\n7. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-7)**\n   [\"GDP up by 0.7% in the euro area and by 0.6% in the EU\"](https:\/\/ec.europa.eu\/eurostat\/documents\/2995521\/14644653\/2-29072022-BP-EN.pdf\/76432e7c-62cf-653b-6998-195b19b897ee). *[Eurostat](https:\/\/en.wikipedia.org\/wiki\/Eurostat \"Eurostat\")*. July 29, 2022.\n8. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-8)**\n   Ermey, Ryan (December 20, 2022). [\"Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money\"](https:\/\/www.cnbc.com\/2022\/12\/20\/2023-market-outlook-what-soft-landing-could-mean-for-your-money.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n9. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-9)**\n   John, Alun (February 22, 2024). [\"European shares hit all-time highs, global momentum builds\"](https:\/\/www.reuters.com\/markets\/europe\/europes-stoxx-600-share-benchmark-hits-all-time-high-2024-02-22\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n10. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-10)**\n    Virgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023). [\"Markets in Focus: Investors Look to Capture Big Market Shifts\"](https:\/\/www.msci.com\/www\/blog-posts\/markets-in-focus-investors-look\/03573322038). *[MSCI](https:\/\/en.wikipedia.org\/wiki\/MSCI \"MSCI\")*.\n11. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-11)**\n    Randewich, Noel; Cherian, Johann M. (January 20, 2024). [\"S\\&P 500 notches first record high close in 2 years; chipmakers soar\"](https:\/\/www.reuters.com\/markets\/us\/futures-climb-chips-megacaps-gain-corporate-earnings-tap-2024-01-19\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n12. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-12)**\n    [\"The S\\&P 500 is in a bull market. Here's what that means and how long the bull might run\"](https:\/\/apnews.com\/article\/bull-stock-market-wall-street-cde5d042da6aa887e7d5ba64b62815ff). *[Associated Press](https:\/\/en.wikipedia.org\/wiki\/Associated_Press \"Associated Press\")*. June 8, 2023.\n13. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-13)**\n    Melgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022). [\"See just how bad a year it was for your retirement account — and why\"](https:\/\/www.washingtonpost.com\/business\/interactive\/2022\/stock-market-sp500-down-this-year\/). *[The Washington Post](https:\/\/en.wikipedia.org\/wiki\/The_Washington_Post \"The Washington Post\")*.\n14. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-14)**\n    Simonetti, Isabella (June 30, 2022). [\"After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market\"](https:\/\/www.nytimes.com\/2022\/06\/30\/business\/stock-market-worst-start-50-years.html). *[The New York Times](https:\/\/en.wikipedia.org\/wiki\/The_New_York_Times \"The New York Times\")*.\n15. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-15)**\n    Rennison, Joe (September 13, 2022). [\"Markets Plunge as Inflation Data Undercuts Wall Street's Optimism\"](https:\/\/www.nytimes.com\/2022\/09\/13\/business\/markets-inflation-stocks.html). *[The New York Times](https:\/\/en.wikipedia.org\/wiki\/The_New_York_Times \"The New York Times\")*.\n16. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-16)**\n    Halpert, Madeline (September 13, 2022). [\"S\\&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High\"](https:\/\/www.forbes.com\/sites\/madelinehalpert\/2022\/09\/13\/sp-500-faces-biggest-drop-this-year-as-inflation-remains-stubbornly-high\/). *[Forbes](https:\/\/en.wikipedia.org\/wiki\/Forbes \"Forbes\")*.\n17. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-17)**\n    Pound, Jesse; Subin, Samantha (December 30, 2022). [\"Stocks fall to end Wall Street's worst year since 2008, S\\&P 500 finishes 2022 down nearly 20%\"](https:\/\/www.cnbc.com\/2022\/12\/29\/stock-market-futures-open-to-close-news.html). *[CNBC](https:\/\/en.wikipedia.org\/wiki\/CNBC \"CNBC\")*.\n18. ^ [***a***](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-losses_18-0) [***b***](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-losses_18-1)\n    [\"Wall Street, European stock markets close 2022 with big losses\"](https:\/\/www.dailysabah.com\/business\/economy\/wall-street-european-stock-markets-close-2022-with-big-losses). *[Daily Sabah](https:\/\/en.wikipedia.org\/wiki\/Daily_Sabah \"Daily Sabah\")*. [Istanbul](https:\/\/en.wikipedia.org\/wiki\/Istanbul \"Istanbul\"). December 30, 2022.\n19. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-19)**\n    Yamaguchi, Yuki (December 30, 2022). [\"Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years\"](https:\/\/english.kyodonews.net\/news\/2022\/12\/6eba1018af37-update1-japans-nikkei-index-drops-9-in-2022-for-1st-yearly-fall-in-4-years.html). *[Kyodo News](https:\/\/en.wikipedia.org\/wiki\/Kyodo_News \"Kyodo News\")*.\n20. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-20)**\n    [\"Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains\"](https:\/\/www.japantimes.co.jp\/business\/2024\/07\/11\/markets\/nikkei-another-record-high\/). *[The Japan Times](https:\/\/en.wikipedia.org\/wiki\/The_Japan_Times \"The Japan Times\")*. [Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\"). July 11, 2024.\n21. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-21)**\n    [\"Why Did Chinese Stocks Drop Some 13% In October 2022?\"](https:\/\/www.forbes.com\/sites\/qai\/2022\/11\/20\/why-did-chinese-stocks-drop-some-13-in-october-2022\/). *[Forbes](https:\/\/en.wikipedia.org\/wiki\/Forbes \"Forbes\")*. November 20, 2022.\n22. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-22)**\n    Zhu, Julie (November 22, 2022). [\"China set to fine Ant Group over \\$1 bln, signalling revamp nears end-sources\"](https:\/\/www.reuters.com\/business\/exclusive-china-set-fine-ant-group-over-1-bln-signalling-revamp-nears-end-2022-11-22\/). *[Reuters](https:\/\/en.wikipedia.org\/wiki\/Reuters \"Reuters\")*.\n23. **[^](https:\/\/en.wikipedia.org\/wiki\/2022_stock_market_decline#cite_ref-23)**\n    Driebusch, Corrie; Vigna, Paul (June 18, 2022). [\"The Crypto Party Is Over\"](https:\/\/www.wsj.com\/articles\/the-crypto-party-is-over-11655524807). *[The Wall Street Journal](https:\/\/en.wikipedia.org\/wiki\/The_Wall_Street_Journal \"The Wall Street Journal\")*. [ISSN](https:\/\/en.wikipedia.org\/wiki\/ISSN_\$identifier\$ \"ISSN (identifier)\") [0099-9660](https:\/\/search.worldcat.org\/issn\/0099-9660).","meta_canonical":null}

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URL	https://en.wikipedia.org/wiki/2022_stock_market_decline
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Boilerpipe Text	From Wikipedia, the free encyclopedia Dow Jones Industrial Average (1970–2023) Nasdaq Composite Index (1980–2023) S&P 500 (1970–2023) The 2022 stock market decline was a bear market that included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the 2021–2023 inflation surge and the resulting increases in interest rates, combined with the worst year for the bond market since 1994 with fears of a global recession due to a decline in economic indicators and an inverted yield curve , exacerbated by supply chain disruptions due to the Russian invasion of Ukraine and uncertainty over the long-term effects of the COVID-19 pandemic on the economy. [ 1 ] [ 2 ] In 2021 many central banks undertook a zero interest rate policy , assuming the rise in inflation to be "temporary" or "transitory". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The Federal Reserve raised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s. [ 3 ] It also reintroduced a policy of quantitative tightening in June 2022. [ 4 ] The European Central Bank raised rates 10 consecutive times during the same period. [ 5 ] In the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the COVID-19 recession ; decreasing at an annual rate of 1.0% in the first quarter of 2022. [ 6 ] GDP growth rates in the European Union also slowed significantly in the first half of 2022. [ 7 ] But the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the AI boom , predictions of lower or stable interest rates, and predictions of a soft landing . [ 8 ] By 2023 and 2024, many stock market indices reached all-time highs. [ 9 ] Stock market performance [ edit ] In 2022 the MSCI World Index index, which tracks developed markets , was down 17.7%. The emerging markets index declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea. [ 10 ] The S&P 500 peaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022. [ 11 ] [ 12 ] In the first 6 months of 2022, the S&P 500 fell 21%, the worst 6-month start to a year since 1970. [ 13 ] [ 14 ] On September 13, 2022, the S&P 500 declined by 4.32% in its largest single-day drop since June 2020. [ 15 ] [ 16 ] The S&P 500 had the worst results since 2008, with a decline of 19% for the year. [ 17 ] The Nasdaq Composite fell 33%. [ 18 ] Stocks in Europe outperformed on the year due to lower valuations. The STOXX Europe 600 lost 12% on the year, the DAX lost 12.5%, and the CAC 40 lost 9.5%. [ 18 ] The Nikkei 225 started the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%. [ 19 ] However, by 2024, it hit all time highs. [ 20 ] By November 2022 the Hang Seng Index was down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when Xi Jinping won a third tenure of the general secretaryship , and investors feared that he would prioritize state-owned firms over private companies. [ 21 ] The decline was also due to concerns over the economic effects of Xi Jinping 's Zero-COVID strategy and its regulatory crackdown and fines on companies such as Ant Group . [ 22 ] Cryptocurrency performance [ edit ] As part of the global decline in most risky assets, the price of Bitcoin fell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in The Wall Street Journal published that month was titled "The Crypto Party Is Over". [ 23 ] However, by 2024, many cryptocurrencies reached all-time highs. ^ Vega, Nicolas (June 14, 2022). "Stocks have officially entered bear market territory—here's what that means and what you should do" . CNBC . ^ Toews, Phillip (March 14, 2022). "Opinion: Ukraine War Likely Has Triggered Lasting Bear Market" . Barron's . ^ Rodini, Laura (April 12, 2024). "A timeline of the Fed's '22–'23 rate hikes & what caused them" . TheStreet.com . ^ Cordes, Lucy; Ferris, Erin (June 14, 2024). "Who Buys Treasuries When the Fed Reduces its Holdings" . Federal Reserve . ^ Reid, Jenni (October 26, 2023). "European Central Bank holds interest rates steady after 10 consecutive hikes" . CNBC . ^ "Real Gross Domestic Product" . ^ "GDP up by 0.7% in the euro area and by 0.6% in the EU" . Eurostat . July 29, 2022. ^ Ermey, Ryan (December 20, 2022). "Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money" . CNBC . ^ John, Alun (February 22, 2024). "European shares hit all-time highs, global momentum builds" . Reuters . ^ Virgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023). "Markets in Focus: Investors Look to Capture Big Market Shifts" . MSCI . ^ Randewich, Noel; Cherian, Johann M. (January 20, 2024). "S&P 500 notches first record high close in 2 years; chipmakers soar" . Reuters . ^ "The S&P 500 is in a bull market. Here's what that means and how long the bull might run" . Associated Press . June 8, 2023. ^ Melgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022). "See just how bad a year it was for your retirement account — and why" . The Washington Post . ^ Simonetti, Isabella (June 30, 2022). "After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market" . The New York Times . ^ Rennison, Joe (September 13, 2022). "Markets Plunge as Inflation Data Undercuts Wall Street's Optimism" . The New York Times . ^ Halpert, Madeline (September 13, 2022). "S&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High" . Forbes . ^ Pound, Jesse; Subin, Samantha (December 30, 2022). "Stocks fall to end Wall Street's worst year since 2008, S&P 500 finishes 2022 down nearly 20%" . CNBC . ^ a b "Wall Street, European stock markets close 2022 with big losses" . Daily Sabah . Istanbul . December 30, 2022. ^ Yamaguchi, Yuki (December 30, 2022). "Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years" . Kyodo News . ^ "Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains" . The Japan Times . Reuters . July 11, 2024. ^ "Why Did Chinese Stocks Drop Some 13% In October 2022?" . Forbes . November 20, 2022. ^ Zhu, Julie (November 22, 2022). "China set to fine Ant Group over $1 bln, signalling revamp nears end-sources" . Reuters . ^ Driebusch, Corrie; Vigna, Paul (June 18, 2022). "The Crypto Party Is Over" . The Wall Street Journal . ISSN 0099-9660 .
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Relevant discussion may be found on [Talk:2022 stock market decline](https://en.wikipedia.org/wiki/Talk:2022_stock_market_decline#Rename_to_'2022_Stock_Market_Dip' "Talk:2022 stock market decline"). Please help to ensure that disputed statements are [reliably sourced](https://en.wikipedia.org/wiki/Wikipedia:Reliable_sources "Wikipedia:Reliable sources"). (July 2024) ([Learn how and when to remove this message](https://en.wikipedia.org/wiki/Help:Maintenance_template_removal "Help:Maintenance template removal")) \| [![](https://upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Dow_Jones_Industrial_Average.webp/330px-Dow_Jones_Industrial_Average.webp.png)](https://en.wikipedia.org/wiki/File:Dow_Jones_Industrial_Average.webp) [Dow Jones Industrial Average](https://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average "Dow Jones Industrial Average") (1970–2023) [![](https://upload.wikimedia.org/wikipedia/commons/thumb/8/80/NASDAQ_Composite_Index.webp/330px-NASDAQ_Composite_Index.webp.png)](https://en.wikipedia.org/wiki/File:NASDAQ_Composite_Index.webp) [Nasdaq Composite Index](https://en.wikipedia.org/wiki/Nasdaq_Composite_Index "Nasdaq Composite Index") (1980–2023) [![](https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/S_%26_P_500.webp/330px-S_%26_P_500.webp.png)](https://en.wikipedia.org/wiki/File:S_%26_P_500.webp) [S\&P 500](https://en.wikipedia.org/wiki/S%26P_500 "S&P 500") (1970–2023) The 2022 stock market decline was a [bear market](https://en.wikipedia.org/wiki/Bear_market "Bear market") that included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the [2021–2023 inflation surge](https://en.wikipedia.org/wiki/2021%E2%80%932023_inflation_surge "2021–2023 inflation surge") and the resulting increases in interest rates, combined with the worst year for the bond market since [1994](https://en.wikipedia.org/wiki/1994_bond_market_crisis "1994 bond market crisis") with fears of a global [recession](https://en.wikipedia.org/wiki/Recession "Recession") due to a decline in [economic indicators](https://en.wikipedia.org/wiki/Economic_indicator "Economic indicator") and an [inverted yield curve](https://en.wikipedia.org/wiki/Inverted_yield_curve "Inverted yield curve"), exacerbated by [supply chain](https://en.wikipedia.org/wiki/Supply_chain "Supply chain") disruptions due to the [Russian invasion of Ukraine](https://en.wikipedia.org/wiki/Russian_invasion_of_Ukraine "Russian invasion of Ukraine") and uncertainty over the long-term effects of the [COVID-19 pandemic](https://en.wikipedia.org/wiki/COVID-19_pandemic "COVID-19 pandemic") on the economy.[\[1\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-1)[\[2\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-2) In 2021 many [central banks](https://en.wikipedia.org/wiki/Central_bank "Central bank") undertook a [zero interest rate policy](https://en.wikipedia.org/wiki/Zero_interest_rate_policy "Zero interest rate policy"), assuming the rise in inflation to be "temporary" or "transitory". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The [Federal Reserve](https://en.wikipedia.org/wiki/Federal_Reserve "Federal Reserve") raised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s.[\[3\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-3) It also reintroduced a policy of [quantitative tightening](https://en.wikipedia.org/wiki/Quantitative_tightening "Quantitative tightening") in June 2022.[\[4\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-4) The [European Central Bank](https://en.wikipedia.org/wiki/European_Central_Bank "European Central Bank") raised rates 10 consecutive times during the same period.[\[5\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-5) In the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the [COVID-19 recession](https://en.wikipedia.org/wiki/COVID-19_recession "COVID-19 recession"); decreasing at an annual rate of 1.0% in the first quarter of 2022.[\[6\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-6) GDP growth rates in the European Union also slowed significantly in the first half of 2022.[\[7\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-7) But the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the [AI boom](https://en.wikipedia.org/wiki/AI_boom "AI boom"), predictions of lower or stable interest rates, and predictions of a [soft landing](https://en.wikipedia.org/wiki/Soft_landing_$economics$ "Soft landing (economics)").[\[8\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-8) By 2023 and 2024, many stock market indices reached all-time highs.[\[9\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-9) ## Stock market performance \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=1 "Edit section: Stock market performance")\] In 2022 the [MSCI World](https://en.wikipedia.org/wiki/MSCI_World "MSCI World") Index index, which tracks [developed markets](https://en.wikipedia.org/wiki/Developed_market "Developed market"), was down 17.7%. The [emerging markets](https://en.wikipedia.org/wiki/Emerging_market "Emerging market") index declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea.[\[10\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-10) ### United States \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=2 "Edit section: United States")\] The [S\&P 500](https://en.wikipedia.org/wiki/S%26P_500 "S&P 500") peaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022.[\[11\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-11)[\[12\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-12) In the first 6 months of 2022, the S\&P 500 fell 21%, the worst 6-month start to a year since 1970.[\[13\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-13)[\[14\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-14) On September 13, 2022, the S\&P 500 declined by 4.32% in its largest single-day drop since June 2020.[\[15\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-15)[\[16\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-16) The S\&P 500 had the worst results since 2008, with a decline of 19% for the year.[\[17\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-17) The Nasdaq Composite fell 33%.[\[18\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-losses-18) ### Europe \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=3 "Edit section: Europe")\] Stocks in Europe outperformed on the year due to lower valuations. The [STOXX Europe 600](https://en.wikipedia.org/wiki/STOXX_Europe_600 "STOXX Europe 600") lost 12% on the year, the [DAX](https://en.wikipedia.org/wiki/DAX "DAX") lost 12.5%, and the [CAC 40](https://en.wikipedia.org/wiki/CAC_40 "CAC 40") lost 9.5%.[\[18\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-losses-18) ### Japan \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=4 "Edit section: Japan")\] The [Nikkei 225](https://en.wikipedia.org/wiki/Nikkei_225 "Nikkei 225") started the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%.[\[19\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-19) However, by 2024, it hit all time highs.[\[20\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-20) ### China \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=5 "Edit section: China")\] By November 2022 the [Hang Seng Index](https://en.wikipedia.org/wiki/Hang_Seng_Index "Hang Seng Index") was down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when [Xi Jinping](https://en.wikipedia.org/wiki/Xi_Jinping "Xi Jinping") won a third tenure of the [general secretaryship](https://en.wikipedia.org/wiki/General_secretaryship_of_Xi_Jinping "General secretaryship of Xi Jinping"), and investors feared that he would prioritize state-owned firms over private companies.[\[21\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-21) The decline was also due to concerns over the economic effects of [Xi Jinping](https://en.wikipedia.org/wiki/Xi_Jinping "Xi Jinping")'s [Zero-COVID](https://en.wikipedia.org/wiki/Zero-COVID "Zero-COVID") strategy and its regulatory crackdown and fines on companies such as [Ant Group](https://en.wikipedia.org/wiki/Ant_Group "Ant Group").[\[22\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-22) ## Cryptocurrency performance \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=6 "Edit section: Cryptocurrency performance")\] See also: [Cryptocurrency bubble](https://en.wikipedia.org/wiki/Cryptocurrency_bubble "Cryptocurrency bubble") As part of the global decline in most risky assets, the price of [Bitcoin](https://en.wikipedia.org/wiki/Bitcoin "Bitcoin") fell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in [The Wall Street Journal](https://en.wikipedia.org/wiki/The_Wall_Street_Journal "The Wall Street Journal") published that month was titled "The Crypto Party Is Over".[\[23\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-23) However, by 2024, many cryptocurrencies reached all-time highs. ## References \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=7 "Edit section: References")\] 1. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-1) Vega, Nicolas (June 14, 2022). ["Stocks have officially entered bear market territory—here's what that means and what you should do"](https://www.cnbc.com/2022/06/14/what-experts-say-to-do-during-a-bear-market.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 2. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-2) Toews, Phillip (March 14, 2022). ["Opinion: Ukraine War Likely Has Triggered Lasting Bear Market"](https://www.barrons.com/advisor/articles/opinion-ukraine-war-bear-stock-market-51647285190). [Barron's](https://en.wikipedia.org/wiki/Barron%27s "Barron's"). 3. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-3) Rodini, Laura (April 12, 2024). ["A timeline of the Fed's '22–'23 rate hikes & what caused them"](https://www.thestreet.com/fed/fed-rate-hikes-2022-2023-timeline-discussion). [TheStreet.com](https://en.wikipedia.org/wiki/TheStreet.com "TheStreet.com"). 4. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-4) Cordes, Lucy; Ferris, Erin (June 14, 2024). ["Who Buys Treasuries When the Fed Reduces its Holdings"](https://www.federalreserve.gov/econres/notes/feds-notes/who-buys-treasuries-when-the-fed-reduces-its-holdings-20240614.html). [Federal Reserve](https://en.wikipedia.org/wiki/Federal_Reserve "Federal Reserve"). 5. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-5) Reid, Jenni (October 26, 2023). ["European Central Bank holds interest rates steady after 10 consecutive hikes"](https://www.cnbc.com/2023/10/26/european-central-bank-holds-interest-rates-steady-after-10-consecutive-hikes.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 6. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-6) ["Real Gross Domestic Product"](https://fred.stlouisfed.org/series/A191RL1Q225SBEA). 7. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-7) ["GDP up by 0.7% in the euro area and by 0.6% in the EU"](https://ec.europa.eu/eurostat/documents/2995521/14644653/2-29072022-BP-EN.pdf/76432e7c-62cf-653b-6998-195b19b897ee). [Eurostat](https://en.wikipedia.org/wiki/Eurostat "Eurostat"). July 29, 2022. 8. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-8) Ermey, Ryan (December 20, 2022). ["Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money"](https://www.cnbc.com/2022/12/20/2023-market-outlook-what-soft-landing-could-mean-for-your-money.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 9. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-9) John, Alun (February 22, 2024). ["European shares hit all-time highs, global momentum builds"](https://www.reuters.com/markets/europe/europes-stoxx-600-share-benchmark-hits-all-time-high-2024-02-22/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 10. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-10) Virgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023). ["Markets in Focus: Investors Look to Capture Big Market Shifts"](https://www.msci.com/www/blog-posts/markets-in-focus-investors-look/03573322038). [MSCI](https://en.wikipedia.org/wiki/MSCI "MSCI"). 11. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-11) Randewich, Noel; Cherian, Johann M. (January 20, 2024). ["S\&P 500 notches first record high close in 2 years; chipmakers soar"](https://www.reuters.com/markets/us/futures-climb-chips-megacaps-gain-corporate-earnings-tap-2024-01-19/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 12. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-12) ["The S\&P 500 is in a bull market. Here's what that means and how long the bull might run"](https://apnews.com/article/bull-stock-market-wall-street-cde5d042da6aa887e7d5ba64b62815ff). [Associated Press](https://en.wikipedia.org/wiki/Associated_Press "Associated Press"). June 8, 2023. 13. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-13) Melgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022). ["See just how bad a year it was for your retirement account — and why"](https://www.washingtonpost.com/business/interactive/2022/stock-market-sp500-down-this-year/). [The Washington Post](https://en.wikipedia.org/wiki/The_Washington_Post "The Washington Post"). 14. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-14) Simonetti, Isabella (June 30, 2022). ["After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market"](https://www.nytimes.com/2022/06/30/business/stock-market-worst-start-50-years.html). [The New York Times](https://en.wikipedia.org/wiki/The_New_York_Times "The New York Times"). 15. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-15) Rennison, Joe (September 13, 2022). ["Markets Plunge as Inflation Data Undercuts Wall Street's Optimism"](https://www.nytimes.com/2022/09/13/business/markets-inflation-stocks.html). [The New York Times](https://en.wikipedia.org/wiki/The_New_York_Times "The New York Times"). 16. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-16) Halpert, Madeline (September 13, 2022). ["S\&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High"](https://www.forbes.com/sites/madelinehalpert/2022/09/13/sp-500-faces-biggest-drop-this-year-as-inflation-remains-stubbornly-high/). [Forbes](https://en.wikipedia.org/wiki/Forbes "Forbes"). 17. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-17) Pound, Jesse; Subin, Samantha (December 30, 2022). ["Stocks fall to end Wall Street's worst year since 2008, S\&P 500 finishes 2022 down nearly 20%"](https://www.cnbc.com/2022/12/29/stock-market-futures-open-to-close-news.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 18. ^ [*a](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-losses_18-0) [b](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-losses_18-1) ["Wall Street, European stock markets close 2022 with big losses"](https://www.dailysabah.com/business/economy/wall-street-european-stock-markets-close-2022-with-big-losses). [Daily Sabah](https://en.wikipedia.org/wiki/Daily_Sabah "Daily Sabah"). [Istanbul](https://en.wikipedia.org/wiki/Istanbul "Istanbul"). December 30, 2022. 19. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-19)* Yamaguchi, Yuki (December 30, 2022). ["Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years"](https://english.kyodonews.net/news/2022/12/6eba1018af37-update1-japans-nikkei-index-drops-9-in-2022-for-1st-yearly-fall-in-4-years.html). [Kyodo News](https://en.wikipedia.org/wiki/Kyodo_News "Kyodo News"). 20. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-20) ["Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains"](https://www.japantimes.co.jp/business/2024/07/11/markets/nikkei-another-record-high/). [The Japan Times](https://en.wikipedia.org/wiki/The_Japan_Times "The Japan Times"). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). July 11, 2024. 21. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-21) ["Why Did Chinese Stocks Drop Some 13% In October 2022?"](https://www.forbes.com/sites/qai/2022/11/20/why-did-chinese-stocks-drop-some-13-in-october-2022/). [Forbes](https://en.wikipedia.org/wiki/Forbes "Forbes"). November 20, 2022. 22. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-22) Zhu, Julie (November 22, 2022). ["China set to fine Ant Group over \$1 bln, signalling revamp nears end-sources"](https://www.reuters.com/business/exclusive-china-set-fine-ant-group-over-1-bln-signalling-revamp-nears-end-2022-11-22/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 23. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-23) Driebusch, Corrie; Vigna, Paul (June 18, 2022). ["The Crypto Party Is Over"](https://www.wsj.com/articles/the-crypto-party-is-over-11655524807). [The Wall Street Journal](https://en.wikipedia.org/wiki/The_Wall_Street_Journal "The Wall Street Journal"). [ISSN](https://en.wikipedia.org/wiki/ISSN_$identifier$ "ISSN (identifier)") [0099-9660](https://search.worldcat.org/issn/0099-9660). \| [v](https://en.wikipedia.org/wiki/Template:Financial_crises "Template:Financial crises") [t](https://en.wikipedia.org/wiki/Template_talk:Financial_crises "Template talk:Financial crises") [e](https://en.wikipedia.org/wiki/Special:EditPage/Template:Financial_crises "Special:EditPage/Template:Financial crises")[Financial crises](https://en.wikipedia.org/wiki/Financial_crisis "Financial crisis") \| \| \|---\|---\| \| [Bank run](https://en.wikipedia.org/wiki/Bank_run "Bank run") [Commodity price shocks](https://en.wikipedia.org/wiki/Commodity_price_shocks "Commodity price shocks") [Credit crunch](https://en.wikipedia.org/wiki/Credit_crunch "Credit crunch") [Credit cycle](https://en.wikipedia.org/wiki/Credit_cycle "Credit cycle") [Currency crisis](https://en.wikipedia.org/wiki/Currency_crisis "Currency crisis") [Debt crisis](https://en.wikipedia.org/wiki/Debt_crisis "Debt crisis") [Energy crisis](https://en.wikipedia.org/wiki/Energy_crisis "Energy crisis") [Financial contagion](https://en.wikipedia.org/wiki/Financial_contagion "Financial contagion") [Social contagion](https://en.wikipedia.org/wiki/Social_contagion "Social contagion") [Flash crash](https://en.wikipedia.org/wiki/Flash_crash "Flash crash") [Hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation "Hyperinflation") [Liquidity crisis](https://en.wikipedia.org/wiki/Liquidity_crisis "Liquidity crisis") [Accounting](https://en.wikipedia.org/wiki/Accounting_liquidity "Accounting liquidity") [Capital](https://en.wikipedia.org/wiki/Liquid_capital "Liquid capital") [Funding](https://en.wikipedia.org/wiki/Funding_liquidity "Funding liquidity") [Market](https://en.wikipedia.org/wiki/Market_liquidity "Market liquidity") [Minsky moment](https://en.wikipedia.org/wiki/Minsky_moment "Minsky moment") [Social crisis](https://en.wikipedia.org/wiki/Social_crisis "Social crisis") [Stock market crash](https://en.wikipedia.org/wiki/Stock_market_crash "Stock market crash") \| \| \| Pre-[1000](https://en.wikipedia.org/wiki/Commercial_revolution "Commercial revolution") \| [Financial crisis of 33 CE](https://en.wikipedia.org/wiki/Financial_crisis_of_33 "Financial crisis of 33") [Crisis of the Third Century](https://en.wikipedia.org/wiki/Crisis_of_the_Third_Century "Crisis of the Third Century") (235–284 CE) \| \| [Commercial revolution](https://en.wikipedia.org/wiki/Commercial_revolution "Commercial revolution") (1000–1760) \| [Great Bullion Famine](https://en.wikipedia.org/wiki/Great_Bullion_Famine "Great Bullion Famine") (c. 1400–c. 1500) [The Great Debasement](https://en.wikipedia.org/wiki/The_Great_Debasement "The Great Debasement") (1544–1551) [Spanish Price Revolution](https://en.wikipedia.org/wiki/Price_revolution "Price revolution") (c. 1550–c. 1650) [Dutch Republic stock market crashes](https://en.wikipedia.org/wiki/Financial_history_of_the_Dutch_Republic "Financial history of the Dutch Republic") (c. 1600–1760) [Kipper und Wipper](https://en.wikipedia.org/wiki/Kipper_und_Wipper "Kipper und Wipper") (1621–1623) [Tulip mania](https://en.wikipedia.org/wiki/Tulip_mania "Tulip mania") (1637) [South Sea bubble](https://en.wikipedia.org/wiki/South_Sea_Company "South Sea Company") (1720) [Mississippi bubble](https://en.wikipedia.org/wiki/John_Law%27s_Company "John Law's Company") (1720) \| \| [1st Industrial Revolution](https://en.wikipedia.org/wiki/Industrial_Revolution "Industrial Revolution") (1760–1840) \| [Amsterdam banking crisis of 1763](https://en.wikipedia.org/wiki/Amsterdam_banking_crisis_of_1763 "Amsterdam banking crisis of 1763") [Bengal Bubble of 1769](https://en.wikipedia.org/wiki/Bengal_Bubble_of_1769 "Bengal Bubble of 1769") (1769–1784) [British credit crisis of 1772–1773](https://en.wikipedia.org/wiki/British_credit_crisis_of_1772%E2%80%931773 "British credit crisis of 1772–1773") [Dutch Republic financial collapse](https://en.wikipedia.org/wiki/Financial_history_of_the_Dutch_Republic "Financial history of the Dutch Republic") (c. 1780–1795) [Copper Panic of 1789](https://en.wikipedia.org/wiki/Copper_Panic_of_1789 "Copper Panic of 1789") [Panic of 1792](https://en.wikipedia.org/wiki/Panic_of_1792 "Panic of 1792") [Panic of 1796–1797](https://en.wikipedia.org/wiki/Panic_of_1796%E2%80%931797 "Panic of 1796–1797") [Danish state bankruptcy of 1813](https://en.wikipedia.org/wiki/Danish_state_bankruptcy_of_1813 "Danish state bankruptcy of 1813") [Post-Napoleonic Irish grain price and land use shocks](https://en.wikipedia.org/wiki/Commodity_price_shocks "Commodity price shocks") (1815–1816) [Panic of 1819](https://en.wikipedia.org/wiki/Panic_of_1819 "Panic of 1819") [Panic of 1825](https://en.wikipedia.org/wiki/Panic_of_1825 "Panic of 1825") [Panic of 1837](https://en.wikipedia.org/wiki/Panic_of_1837 "Panic of 1837") \| \| 1840–1870 \| [European potato failure](https://en.wikipedia.org/wiki/European_potato_failure "European potato failure") (1845–1856) [Great Irish Famine](https://en.wikipedia.org/wiki/Great_Famine_$Ireland$ "Great Famine (Ireland)") [Highland Potato Famine](https://en.wikipedia.org/wiki/Highland_Potato_Famine "Highland Potato Famine") [Panic of 1847](https://en.wikipedia.org/wiki/Panic_of_1847 "Panic of 1847") [Panic of 1857](https://en.wikipedia.org/wiki/Panic_of_1857 "Panic of 1857") [Panic of 1866](https://en.wikipedia.org/wiki/Panic_of_1866 "Panic of 1866") [Black Friday](https://en.wikipedia.org/wiki/Black_Friday_$1869$ "Black Friday (1869)") (1869) \| \| [2nd Industrial Revolution](https://en.wikipedia.org/wiki/Second_Industrial_Revolution "Second Industrial Revolution") (1870–1914) \| [Panic of 1873](https://en.wikipedia.org/wiki/Panic_of_1873 "Panic of 1873") [Paris Bourse crash of 1882](https://en.wikipedia.org/wiki/Paris_Bourse_crash_of_1882 "Paris Bourse crash of 1882") [Panic of 1884](https://en.wikipedia.org/wiki/Panic_of_1884 "Panic of 1884") [Arendal crash](https://en.wikipedia.org/wiki/Arendal_crash "Arendal crash") (1886) [Baring crisis](https://en.wikipedia.org/wiki/Baring_crisis "Baring crisis") (1890) [Encilhamento](https://en.wikipedia.org/wiki/Encilhamento "Encilhamento") (1890–1893) [Panic of 1893](https://en.wikipedia.org/wiki/Panic_of_1893 "Panic of 1893") [Australian banking crisis of 1893](https://en.wikipedia.org/wiki/Australian_banking_crisis_of_1893 "Australian banking crisis of 1893") [Black Monday](https://en.wikipedia.org/wiki/Black_Monday_$1894$ "Black Monday (1894)") (1894) [Panic of 1896](https://en.wikipedia.org/wiki/Panic_of_1896 "Panic of 1896") [Panic of 1901](https://en.wikipedia.org/wiki/Panic_of_1901 "Panic of 1901") [Panic of 1907](https://en.wikipedia.org/wiki/Panic_of_1907 "Panic of 1907") [Shanghai rubber stock market crisis](https://en.wikipedia.org/wiki/Shanghai_rubber_stock_market_crisis "Shanghai rubber stock market crisis") (1910) [Panic of 1910–11](https://en.wikipedia.org/wiki/Panic_of_1910%E2%80%9311 "Panic of 1910–11") [Financial crisis of 1914](https://en.wikipedia.org/wiki/Financial_crisis_of_1914 "Financial crisis of 1914") \| \| [Interwar period](https://en.wikipedia.org/wiki/Interwar_period "Interwar period") (1918–1939) \| [Early Soviet hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation_in_early_Soviet_Russia "Hyperinflation in early Soviet Russia") (1917–1924) [Weimar Republic hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation_in_the_Weimar_Republic "Hyperinflation in the Weimar Republic") (1921–1923) [Shōwa financial crisis](https://en.wikipedia.org/wiki/Sh%C5%8Dwa_financial_crisis "Shōwa financial crisis") (1927) [Wall Street crash of 1929](https://en.wikipedia.org/wiki/Wall_Street_crash_of_1929 "Wall Street crash of 1929") [Panic of 1930](https://en.wikipedia.org/wiki/Panic_of_1930 "Panic of 1930") [Chinese hyperinflation](https://en.wikipedia.org/wiki/Chinese_hyperinflation "Chinese hyperinflation") (1937–1950) \| \| [Wartime period](https://en.wikipedia.org/wiki/World_War_II "World War II") (1939–1945) \| [Greek hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation_in_Greece "Hyperinflation in Greece") (1941–1946) [Chinese hyperinflation](https://en.wikipedia.org/wiki/Chinese_hyperinflation "Chinese hyperinflation") (1937–1950) \| \| [Post–WWII expansion](https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_economic_expansion "Post–World War II economic expansion") (1945–1973) \| [Hungarian pengő hyperinflation](https://en.wikipedia.org/wiki/Hungarian_peng%C5%91#Hyperinflation "Hungarian pengő") (1945–1946) [Kennedy Slide of 1962](https://en.wikipedia.org/wiki/Kennedy_Slide_of_1962 "Kennedy Slide of 1962") [1963–1965 Indonesian hyperinflation](https://en.wikipedia.org/w/index.php?title=1963%E2%80%931965_Indonesian_hyperinflation&action=edit&redlink=1 "1963–1965 Indonesian hyperinflation (page does not exist)") [Chinese hyperinflation](https://en.wikipedia.org/wiki/Chinese_hyperinflation "Chinese hyperinflation") (1937–1950) \| \| [Great Inflation](https://en.wikipedia.org/wiki/Stagflation "Stagflation") (1973–1982) \| [1970s energy crisis](https://en.wikipedia.org/wiki/1970s_energy_crisis "1970s energy crisis") (1973–1980) [1973 oil crisis](https://en.wikipedia.org/wiki/1973_oil_crisis "1973 oil crisis") [1973–1974 stock market crash](https://en.wikipedia.org/wiki/1973%E2%80%931974_stock_market_crash "1973–1974 stock market crash") [Secondary banking crisis of 1973–1975](https://en.wikipedia.org/wiki/Secondary_banking_crisis_of_1973%E2%80%931975 "Secondary banking crisis of 1973–1975") [Steel crisis](https://en.wikipedia.org/wiki/Steel_crisis "Steel crisis") (1973–1982) [Latin American debt crisis](https://en.wikipedia.org/wiki/Latin_American_debt_crisis "Latin American debt crisis") (1975–1982) [1976 sterling crisis](https://en.wikipedia.org/wiki/1976_sterling_crisis "1976 sterling crisis") [1979 oil crisis](https://en.wikipedia.org/wiki/1979_oil_crisis "1979 oil crisis") [Brazilian hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation_in_Brazil "Hyperinflation in Brazil") (1980–1982) \| \| [Great Moderation](https://en.wikipedia.org/wiki/Great_Moderation "Great Moderation")/ Great Regression (1982–2007) \| [Brazilian hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation_in_Brazil "Hyperinflation in Brazil") (1982–1994) [Souk Al-Manakh stock market crash](https://en.wikipedia.org/wiki/Souk_Al-Manakh_stock_market_crash "Souk Al-Manakh stock market crash") (1982) [Chilean crisis of 1982](https://en.wikipedia.org/wiki/Crisis_of_1982 "Crisis of 1982") [1983 Israel bank stock crisis](https://en.wikipedia.org/wiki/1983_Israel_bank_stock_crisis "1983 Israel bank stock crisis") [Black Saturday (1983)](https://en.wikipedia.org/wiki/Black_Saturday_$1983$ "Black Saturday (1983)") [Savings and loan crisis](https://en.wikipedia.org/wiki/Savings_and_loan_crisis "Savings and loan crisis") (1986–1995) [Cameroonian economic crisis](https://en.wikipedia.org/wiki/Cameroonian_economic_crisis "Cameroonian economic crisis") (1987–2000s) [Black Monday (1987)](https://en.wikipedia.org/wiki/Black_Monday_$1987$ "Black Monday (1987)") [1988–1992 Norwegian banking crisis](https://en.wikipedia.org/wiki/1988%E2%80%931992_Norwegian_banking_crisis "1988–1992 Norwegian banking crisis") [Japanese asset price bubble crash](https://en.wikipedia.org/wiki/Japanese_asset_price_bubble "Japanese asset price bubble") (1990–1992) [Rhode Island banking crisis](https://en.wikipedia.org/wiki/Rhode_Island_banking_crisis "Rhode Island banking crisis") (1990–1992) [1991 Indian economic crisis](https://en.wikipedia.org/wiki/1991_Indian_economic_crisis "1991 Indian economic crisis") [1990–1994 Swedish financial crisis](https://en.wikipedia.org/wiki/1990%E2%80%931994_Swedish_financial_crisis "1990–1994 Swedish financial crisis") [1990s Finnish banking crisis](https://en.wikipedia.org/wiki/1990s_Finnish_banking_crisis "1990s Finnish banking crisis") [1990s Armenian energy crisis](https://en.wikipedia.org/wiki/1990s_Armenian_energy_crisis "1990s Armenian energy crisis") [Cuban Special Period](https://en.wikipedia.org/wiki/Special_Period "Special Period") (1991–2000) [Black Wednesday (1992 Sterling crisis)](https://en.wikipedia.org/wiki/Black_Wednesday "Black Wednesday") [Hyperinflation in Serbia and Montenegro](https://en.wikipedia.org/wiki/Hyperinflation_in_Serbia_and_Montenegro "Hyperinflation in Serbia and Montenegro") (1992–1994) [1994 bond market crisis](https://en.wikipedia.org/wiki/1994_bond_market_crisis "1994 bond market crisis") [Venezuelan banking crisis of 1994](https://en.wikipedia.org/wiki/Venezuelan_banking_crisis_of_1994 "Venezuelan banking crisis of 1994") [1994 Papua New Guinea financial crisis](https://en.wikipedia.org/wiki/1994_Papua_New_Guinea_financial_crisis "1994 Papua New Guinea financial crisis") [Mexican peso crisis](https://en.wikipedia.org/wiki/Mexican_peso_crisis "Mexican peso crisis") (1994–1996) [1997 Asian financial crisis](https://en.wikipedia.org/wiki/1997_Asian_financial_crisis "1997 Asian financial crisis") [October 27, 1997, mini-crash](https://en.wikipedia.org/wiki/October_27,_1997,_mini-crash "October 27, 1997, mini-crash") [1998 Russian financial crisis](https://en.wikipedia.org/wiki/1998_Russian_financial_crisis "1998 Russian financial crisis") [1998–1999 Ecuador economic crisis](https://en.wikipedia.org/wiki/1998%E2%80%931999_Ecuador_economic_crisis "1998–1999 Ecuador economic crisis") [1998–2002 Argentine great depression](https://en.wikipedia.org/wiki/1998%E2%80%932002_Argentine_great_depression "1998–2002 Argentine great depression") [Samba effect](https://en.wikipedia.org/wiki/Samba_effect "Samba effect") (1999) [Dot-com bubble](https://en.wikipedia.org/wiki/Dot-com_bubble "Dot-com bubble") (2000–2004) [9/11 stock market crash](https://en.wikipedia.org/wiki/Economic_effects_of_the_September_11_attacks "Economic effects of the September 11 attacks") (2001) [2001 Turkish economic crisis](https://en.wikipedia.org/wiki/2001_Turkish_economic_crisis "2001 Turkish economic crisis") [South American economic crisis of 2002](https://en.wikipedia.org/wiki/South_American_economic_crisis_of_2002 "South American economic crisis of 2002") [Stock market downturn of 2002](https://en.wikipedia.org/wiki/Stock_market_downturn_of_2002 "Stock market downturn of 2002") [2002 Uruguay banking crisis](https://en.wikipedia.org/wiki/2002_Uruguay_banking_crisis "2002 Uruguay banking crisis") [2003 Myanmar banking crisis](https://en.wikipedia.org/wiki/2003_Myanmar_banking_crisis "2003 Myanmar banking crisis") [2000s energy crisis](https://en.wikipedia.org/wiki/2000s_energy_crisis "2000s energy crisis") (2003–2008) [2004 Argentine energy crisis](https://en.wikipedia.org/wiki/2004_Argentine_energy_crisis "2004 Argentine energy crisis") [Chinese stock bubble of 2007](https://en.wikipedia.org/wiki/Chinese_stock_bubble_of_2007 "Chinese stock bubble of 2007") [Hyperinflation in Zimbabwe](https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe "Hyperinflation in Zimbabwe") (2007–present) \| \| [Great Recession](https://en.wikipedia.org/wiki/Great_Recession "Great Recession") (2007–2009) \| [2008 financial crisis](https://en.wikipedia.org/wiki/2008_financial_crisis "2008 financial crisis") [September 2008](https://en.wikipedia.org/wiki/Global_financial_crisis_in_September_2008 "Global financial crisis in September 2008") [October 2008](https://en.wikipedia.org/wiki/Global_financial_crisis_in_October_2008 "Global financial crisis in October 2008") [November 2008](https://en.wikipedia.org/wiki/Global_financial_crisis_in_November_2008 "Global financial crisis in November 2008") [December 2008](https://en.wikipedia.org/wiki/Global_financial_crisis_in_December_2008 "Global financial crisis in December 2008") [2009](https://en.wikipedia.org/wiki/Global_financial_crisis_in_2009 "Global financial crisis in 2009") [Subprime mortgage crisis](https://en.wikipedia.org/wiki/Subprime_mortgage_crisis "Subprime mortgage crisis") [2000s U.S. housing market correction](https://en.wikipedia.org/wiki/2000s_United_States_housing_market_correction "2000s United States housing market correction") [U.S. bear market of 2007–2009](https://en.wikipedia.org/wiki/United_States_bear_market_of_2007%E2%80%932009 "United States bear market of 2007–2009") [2008 Latvian financial crisis](https://en.wikipedia.org/wiki/2008_Latvian_financial_crisis "2008 Latvian financial crisis") [2008–2009 Belgian financial crisis](https://en.wikipedia.org/wiki/2008%E2%80%932009_Belgian_financial_crisis "2008–2009 Belgian financial crisis") [Great Recession in Russia](https://en.wikipedia.org/wiki/Great_Recession_in_Russia "Great Recession in Russia") [2008–2009 Ukrainian financial crisis](https://en.wikipedia.org/wiki/2008%E2%80%932009_Ukrainian_financial_crisis "2008–2009 Ukrainian financial crisis") [2008–2011 Icelandic financial crisis](https://en.wikipedia.org/wiki/2008%E2%80%932011_Icelandic_financial_crisis "2008–2011 Icelandic financial crisis") [Post-2008 Irish banking crisis](https://en.wikipedia.org/wiki/Post-2008_Irish_banking_crisis "Post-2008 Irish banking crisis") [2008–2014 Spanish financial crisis](https://en.wikipedia.org/wiki/2008%E2%80%932014_Spanish_financial_crisis "2008–2014 Spanish financial crisis") [Blue Monday Crash 2009](https://en.wikipedia.org/wiki/Blue_Monday_Crash_2009 "Blue Monday Crash 2009") [Euro area crisis](https://en.wikipedia.org/wiki/Euro_area_crisis "Euro area crisis") [Greek government-debt crisis](https://en.wikipedia.org/wiki/Greek_government-debt_crisis "Greek government-debt crisis") \| \| [Information Age](https://en.wikipedia.org/wiki/Information_Age "Information Age") (2009–present) \| [2009 Dubai debt standstill](https://en.wikipedia.org/wiki/Dubai_World "Dubai World") [Venezuelan banking crisis of 2009–2010](https://en.wikipedia.org/wiki/Venezuelan_banking_crisis_of_2009%E2%80%932010 "Venezuelan banking crisis of 2009–2010") [2010–2014 Portuguese financial crisis](https://en.wikipedia.org/wiki/2010%E2%80%932014_Portuguese_financial_crisis "2010–2014 Portuguese financial crisis") [Energy crisis in Venezuela](https://en.wikipedia.org/wiki/Energy_crisis_in_Venezuela "Energy crisis in Venezuela") (2010–present) [Syrian economic crisis](https://en.wikipedia.org/wiki/Economy_of_Syria "Economy of Syria") (2011–present) [August 2011 stock markets fall](https://en.wikipedia.org/wiki/August_2011_stock_markets_fall "August 2011 stock markets fall") [2011 Bangladesh share market scam](https://en.wikipedia.org/wiki/2011_Bangladesh_share_market_scam "2011 Bangladesh share market scam") [2012–2013 Cypriot financial crisis](https://en.wikipedia.org/wiki/2012%E2%80%932013_Cypriot_financial_crisis "2012–2013 Cypriot financial crisis") [Chinese Banking Liquidity Crisis of 2013](https://en.wikipedia.org/wiki/Chinese_Banking_Liquidity_Crisis_of_2013 "Chinese Banking Liquidity Crisis of 2013") [Venezuela economic crisis](https://en.wikipedia.org/wiki/2013%E2%80%93present_economic_crisis_in_Venezuela "2013–present economic crisis in Venezuela") (2013–present) [2014 Brazilian economic crisis](https://en.wikipedia.org/wiki/2014_Brazilian_economic_crisis "2014 Brazilian economic crisis") [Puerto Rican government-debt crisis](https://en.wikipedia.org/wiki/Puerto_Rican_government-debt_crisis "Puerto Rican government-debt crisis") (2014–2022) [Russian financial crisis (2014–2016)](https://en.wikipedia.org/wiki/Russian_financial_crisis_$2014%E2%80%932016$ "Russian financial crisis (2014–2016)") [2015–16 Nepal blockade](https://en.wikipedia.org/wiki/2015%E2%80%9316_Nepal_blockade "2015–16 Nepal blockade") [2015–2016 Chinese stock market turbulence](https://en.wikipedia.org/wiki/2015%E2%80%932016_Chinese_stock_market_turbulence "2015–2016 Chinese stock market turbulence") [2015–2016 stock market selloff](https://en.wikipedia.org/wiki/2015%E2%80%932016_stock_market_selloff "2015–2016 stock market selloff") [Brexit stock market crash](https://en.wikipedia.org/wiki/Economic_effects_of_Brexit "Economic effects of Brexit") (2016) [Hyperinflation in Venezuela](https://en.wikipedia.org/wiki/Hyperinflation_in_Venezuela "Hyperinflation in Venezuela") (2016–2022) [2017 Sri Lankan fuel crisis](https://en.wikipedia.org/wiki/2017_Sri_Lankan_fuel_crisis "2017 Sri Lankan fuel crisis") [Ghana banking crisis](https://en.wikipedia.org/wiki/Ghana_banking_crisis "Ghana banking crisis") (2017–2018) [Turkish economic crisis (2018–current)](https://en.wikipedia.org/wiki/Turkish_economic_crisis_$2018%E2%80%93current$ "Turkish economic crisis (2018–current)") [Lebanese liquidity crisis](https://en.wikipedia.org/wiki/Lebanese_liquidity_crisis "Lebanese liquidity crisis") (2019–present) [Sri Lankan economic crisis (2019–2024)](https://en.wikipedia.org/wiki/Sri_Lankan_economic_crisis_$2019%E2%80%932024$ "Sri Lankan economic crisis (2019–2024)") [COVID-19 pandemic](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic "Economic impact of the COVID-19 pandemic") [Financial market impact](https://en.wikipedia.org/wiki/Financial_market_impact_of_the_COVID-19_pandemic "Financial market impact of the COVID-19 pandemic") [2020 stock market crash](https://en.wikipedia.org/wiki/2020_stock_market_crash "2020 stock market crash") [Recession](https://en.wikipedia.org/wiki/COVID-19_recession "COVID-19 recession") [Chinese property sector crisis (2020–present)](https://en.wikipedia.org/wiki/Chinese_property_sector_crisis_$2020%E2%80%93present$ "Chinese property sector crisis (2020–present)") [2021–2023 inflation surge](https://en.wikipedia.org/wiki/2021%E2%80%932023_inflation_surge "2021–2023 inflation surge") [2022 Russian financial crisis](https://en.wikipedia.org/wiki/Economic_impact_of_the_Russo-Ukrainian_war_$2022%E2%80%93present$ "Economic impact of the Russo-Ukrainian war (2022–present)") [Pakistani economic crisis (2021–2024)](https://en.wikipedia.org/wiki/Pakistani_economic_crisis_$2021%E2%80%932024$ "Pakistani economic crisis (2021–2024)") [2022 stock market decline]() [German economic crisis (2022–present)](https://en.wikipedia.org/wiki/German_economic_crisis_$2022%E2%80%93present$ "German economic crisis (2022–present)") [2023 United States banking crisis](https://en.wikipedia.org/wiki/2023_United_States_banking_crisis "2023 United States banking crisis") [2023–2024 Egyptian financial crisis](https://en.wikipedia.org/wiki/2023%E2%80%932024_Egyptian_financial_crisis "2023–2024 Egyptian financial crisis") [2025 stock market crash](https://en.wikipedia.org/wiki/2025_stock_market_crash "2025 stock market crash") \| \| [List of banking crises](https://en.wikipedia.org/wiki/List_of_banking_crises "List of banking crises") [List of economic crises](https://en.wikipedia.org/wiki/List_of_economic_crises "List of economic crises") [List of sovereign debt crises](https://en.wikipedia.org/wiki/List_of_sovereign_debt_crises "List of sovereign debt crises") [List of stock market crashes and bear markets](https://en.wikipedia.org/wiki/List_of_stock_market_crashes_and_bear_markets "List of stock market crashes and bear markets") \| \| \| [v](https://en.wikipedia.org/wiki/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions "Template:United States – Commonwealth of Nations recessions") [t](https://en.wikipedia.org/wiki/Template_talk:United_States_%E2%80%93_Commonwealth_of_Nations_recessions "Template talk:United States – Commonwealth of Nations recessions") [e](https://en.wikipedia.org/wiki/Special:EditPage/Template:United_States_%E2%80%93_Commonwealth_of_Nations_recessions "Special:EditPage/Template:United States – Commonwealth of Nations recessions")[Economic history of the United States](https://en.wikipedia.org/wiki/Economic_history_of_the_United_States "Economic history of the United States") and Commonwealth of Nations countries \| \| \|---\|---\| \| [Commercial revolution](https://en.wikipedia.org/wiki/Commercial_revolution "Commercial revolution") (1000–1760) \| [Great Bullion Famine](https://en.wikipedia.org/wiki/Great_Bullion_Famine "Great Bullion Famine") (c. 1400–c. 1500) [Great Slump](https://en.wikipedia.org/wiki/Great_Slump_$15th_century$ "Great Slump (15th century)") (1430–1490) [The Great Debasement](https://en.wikipedia.org/wiki/The_Great_Debasement "The Great Debasement") (1544–1551) [Financial Revolution](https://en.wikipedia.org/wiki/Financial_Revolution "Financial Revolution") (1690–1800) [Slump of 1706](https://en.wikipedia.org/wiki/War_of_the_Spanish_Succession "War of the Spanish Succession") [Great Frost of 1709](https://en.wikipedia.org/wiki/Great_Frost_of_1709 "Great Frost of 1709") [South Sea bubble](https://en.wikipedia.org/wiki/South_Sea_Company "South Sea Company") (1713–1720) [Mississippi bubble](https://en.wikipedia.org/wiki/John_Law%27s_Company "John Law's Company") (1717–1720) [Economic impact of the Seven Years' War](https://en.wikipedia.org/wiki/Financial_costs_of_the_Seven_Years%27_War "Financial costs of the Seven Years' War") (1754–1763) \| \| [1st Industrial Revolution](https://en.wikipedia.org/wiki/Industrial_Revolution "Industrial Revolution")/ [Market Revolution](https://en.wikipedia.org/wiki/Market_Revolution "Market Revolution") (1760–1870) \| Industrial Revolution [Scotland](https://en.wikipedia.org/wiki/Industrial_Revolution_in_Scotland "Industrial Revolution in Scotland") [United States](https://en.wikipedia.org/wiki/Industrial_Revolution_in_the_United_States "Industrial Revolution in the United States") [Wales](https://en.wikipedia.org/wiki/Industrial_Revolution_in_Wales "Industrial Revolution in Wales") [Bengal Bubble of 1769](https://en.wikipedia.org/wiki/Bengal_Bubble_of_1769 "Bengal Bubble of 1769") (1769–1784) [British credit crisis of 1772–1773](https://en.wikipedia.org/wiki/British_credit_crisis_of_1772%E2%80%931773 "British credit crisis of 1772–1773") [American Revolutionary War inflation](https://en.wikipedia.org/wiki/Financial_costs_of_the_American_Revolutionary_War "Financial costs of the American Revolutionary War") (1775–1783) [Panic of 1785](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") (1785–1788) [Copper Panic of 1789](https://en.wikipedia.org/wiki/Copper_Panic_of_1789 "Copper Panic of 1789")/[Panic of 1792](https://en.wikipedia.org/wiki/Panic_of_1792 "Panic of 1792") (1789–1793) [Canal Mania](https://en.wikipedia.org/wiki/Canal_Mania "Canal Mania") (c. 1790–c. 1810) [Panic of 1796–1797](https://en.wikipedia.org/wiki/Panic_of_1796%E2%80%931797 "Panic of 1796–1797") (1796–1799) [1802–1804 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") [Carolina gold rush](https://en.wikipedia.org/wiki/Carolina_gold_rush "Carolina gold rush") (1802–1825) [Depression of 1807](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") (1807–1810) [1810s Alabama real estate bubble](https://en.wikipedia.org/wiki/Alabama_real_estate_bubble_of_the_1810s "Alabama real estate bubble of the 1810s") [Alabama Fever](https://en.wikipedia.org/wiki/Alabama_Fever "Alabama Fever") [1812 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") [Post-Napoleonic Depression](https://en.wikipedia.org/wiki/Post-Napoleonic_Depression "Post-Napoleonic Depression") (1815–1821) [1822–23 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") [Panic of 1825](https://en.wikipedia.org/wiki/Panic_of_1825 "Panic of 1825") [Panic of 1826](https://en.wikipedia.org/wiki/Panic_of_1826 "Panic of 1826") [1828–29 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") [Georgia Gold Rush](https://en.wikipedia.org/wiki/Georgia_Gold_Rush "Georgia Gold Rush") (1828–c. 1840) [1830s Chicago real estate bubble](https://en.wikipedia.org/wiki/Chicago_real_estate_bubble_of_the_1830s "Chicago real estate bubble of the 1830s") [1833–34 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Early_recessions_and_crises_$1785%E2%80%931836$ "List of recessions in the United States") [Panic of 1837](https://en.wikipedia.org/wiki/Panic_of_1837 "Panic of 1837") (1836–1838 and 1839–1843) [U.S. state defaults in the 1840s](https://en.wikipedia.org/wiki/U.S._state_defaults_in_the_1840s "U.S. state defaults in the 1840s") [Railway Mania](https://en.wikipedia.org/wiki/Railway_Mania "Railway Mania") (c. 1840–c. 1850) [Plank Road Boom](https://en.wikipedia.org/wiki/Plank_Road_Boom "Plank Road Boom") (1844–c. 1855) [1845–46 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Panic of 1847](https://en.wikipedia.org/wiki/Panic_of_1847 "Panic of 1847") (1847–1848) [California gold rush](https://en.wikipedia.org/wiki/California_gold_rush "California gold rush") (1848–1855) [British Columbia gold rushes](https://en.wikipedia.org/wiki/British_Columbia_gold_rushes "British Columbia gold rushes") [Queen Charlottes Gold Rush](https://en.wikipedia.org/wiki/Queen_Charlottes_Gold_Rush "Queen Charlottes Gold Rush"), 1851 [Fraser Canyon Gold Rush](https://en.wikipedia.org/wiki/Fraser_Canyon_Gold_Rush "Fraser Canyon Gold Rush"), 1858 [Rock Creek Gold Rush](https://en.wikipedia.org/wiki/Rock_Creek_Gold_Rush "Rock Creek Gold Rush"), 1859 [Similkameen Gold Rush](https://en.wikipedia.org/wiki/Similkameen_Gold_Rush "Similkameen Gold Rush"), 1860 [Stikine Gold Rush](https://en.wikipedia.org/wiki/Stikine_Gold_Rush "Stikine Gold Rush"), 1861 [Cariboo Gold Rush](https://en.wikipedia.org/wiki/Cariboo_Gold_Rush "Cariboo Gold Rush"), 1861–1867 [Wild Horse Creek Gold Rush](https://en.wikipedia.org/wiki/Fisherville,_British_Columbia "Fisherville, British Columbia"), 1863–1870 [Leechtown Gold Rush](https://en.wikipedia.org/wiki/Leechtown,_British_Columbia "Leechtown, British Columbia"), 1864–1865 [Big Bend Gold Rush](https://en.wikipedia.org/wiki/Big_Bend_Gold_Rush "Big Bend Gold Rush"), c. 1865 [Omineca Gold Rush](https://en.wikipedia.org/wiki/Omineca_Gold_Rush "Omineca Gold Rush"), 1869 [Victorian gold rush](https://en.wikipedia.org/wiki/Victorian_gold_rush "Victorian gold rush") (1851–c. 1870) [New South Wales gold rush](https://en.wikipedia.org/wiki/New_South_Wales_gold_rush "New South Wales gold rush") (1851–1880) [Australian gold rushes](https://en.wikipedia.org/wiki/Australian_gold_rushes "Australian gold rushes") (1851–1914) [1853–54 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Panic of 1857](https://en.wikipedia.org/wiki/Panic_of_1857 "Panic of 1857") (1857–1858) [Pike's Peak gold rush](https://en.wikipedia.org/wiki/Pike%27s_Peak_gold_rush "Pike's Peak gold rush") (1858–1861) [Pennsylvania oil rush](https://en.wikipedia.org/wiki/Pennsylvania_oil_rush "Pennsylvania oil rush") (1859–1891) [1860–61 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Colorado River mining boom](https://en.wikipedia.org/wiki/Steamboats_of_the_Colorado_River "Steamboats of the Colorado River") (1861–1864) [Otago gold rush](https://en.wikipedia.org/wiki/Otago_gold_rush "Otago gold rush") (1861–1864) [U.S. Civil War economy](https://en.wikipedia.org/wiki/Economic_history_of_the_American_Civil_War "Economic history of the American Civil War") (1861–1865) [First Nova Scotia Gold Rush](https://en.wikipedia.org/wiki/Gold_mining_in_Nova_Scotia "Gold mining in Nova Scotia") (1861–1874) [West Coast gold rush](https://en.wikipedia.org/wiki/West_Coast_gold_rush "West Coast gold rush") (1864–1867) [Panic of 1866](https://en.wikipedia.org/wiki/Panic_of_1866 "Panic of 1866") (1865–1867) [Vermilion Lake gold rush](https://en.wikipedia.org/wiki/Vermilion_Lake_gold_rush "Vermilion Lake gold rush") (1865–1867) [Kildonan Gold Rush](https://en.wikipedia.org/wiki/Kildonan_Gold_Rush "Kildonan Gold Rush") (1869) [Black Friday](https://en.wikipedia.org/wiki/Black_Friday_$1869$ "Black Friday (1869)") (1869–1870) \| \| [Gilded Age](https://en.wikipedia.org/wiki/Gilded_Age "Gilded Age")/ [2nd Industrial Revolution](https://en.wikipedia.org/wiki/Second_Industrial_Revolution "Second Industrial Revolution") (1870–1914) \| [Coromandel Gold Rushes](https://en.wikipedia.org/wiki/Coromandel_Gold_Rushes "Coromandel Gold Rushes") (c. 1870–c. 1890) [Cassiar Gold Rush](https://en.wikipedia.org/wiki/Cassiar_Country "Cassiar Country") (c. 1870–c. 1890) [Long Depression](https://en.wikipedia.org/wiki/Long_Depression "Long Depression") 1873–1879; [Panic of 1873](https://en.wikipedia.org/wiki/Panic_of_1873 "Panic of 1873") [Black Hills gold rush](https://en.wikipedia.org/wiki/Black_Hills_gold_rush "Black Hills gold rush") (1874–1880) [Colorado Silver Boom](https://en.wikipedia.org/wiki/Colorado_Silver_Boom "Colorado Silver Boom") (1879–1893) [Western Australian gold rushes](https://en.wikipedia.org/wiki/Western_Australian_gold_rushes "Western Australian gold rushes") (c. 1880–c. 1900) [Indiana gas boom](https://en.wikipedia.org/wiki/Indiana_gas_boom "Indiana gas boom") (c. 1880–1903) [Ohio oil rush](https://en.wikipedia.org/wiki/Petroleum_industry_in_Ohio "Petroleum industry in Ohio") (c. 1880–c. 1930) [Depression of 1882–1885](https://en.wikipedia.org/wiki/Depression_of_1882%E2%80%931885 "Depression of 1882–1885") [Panic of 1884](https://en.wikipedia.org/wiki/Panic_of_1884 "Panic of 1884") [Cayoosh Gold Rush](https://en.wikipedia.org/wiki/Cayoosh_Gold_Rush "Cayoosh Gold Rush") (1884) [Witwatersrand Gold Rush](https://en.wikipedia.org/wiki/Witwatersrand_Gold_Rush "Witwatersrand Gold Rush") (1886) [1887–88 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Baring crisis](https://en.wikipedia.org/wiki/Baring_crisis "Baring crisis") (1890–1891) [Cripple Creek Gold Rush](https://en.wikipedia.org/wiki/Cripple_Creek_Gold_Rush "Cripple Creek Gold Rush") (c. 1890–c. 1910) [Panic of 1893](https://en.wikipedia.org/wiki/Panic_of_1893 "Panic of 1893") (1893–1897) [Australian banking crisis of 1893](https://en.wikipedia.org/wiki/Australian_banking_crisis_of_1893 "Australian banking crisis of 1893") [Black Monday](https://en.wikipedia.org/wiki/Black_Monday_$1894$ "Black Monday (1894)") (1894) [Panic of 1896](https://en.wikipedia.org/wiki/Panic_of_1896 "Panic of 1896") [Klondike Gold Rush](https://en.wikipedia.org/wiki/Klondike_Gold_Rush "Klondike Gold Rush") (1896–1899) [Second Nova Scotia Gold Rush](https://en.wikipedia.org/wiki/Gold_mining_in_Nova_Scotia "Gold mining in Nova Scotia") (1896–1903) [Kobuk River Stampede](https://en.wikipedia.org/wiki/Kobuk_River_Stampede "Kobuk River Stampede") (1897–1899) [Mount Baker gold rush](https://en.wikipedia.org/wiki/Mount_Baker_gold_rush "Mount Baker gold rush") (1897–c. 1925) [1899–1900 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Nome Gold Rush](https://en.wikipedia.org/wiki/Nome_Gold_Rush "Nome Gold Rush") (1899–1909) [Fairbanks Gold Rush](https://en.wikipedia.org/wiki/Fairbanks_Gold_Rush "Fairbanks Gold Rush") (c. 1900–c. 1930) [Texas oil boom](https://en.wikipedia.org/wiki/Texas_oil_boom "Texas oil boom") (1901–c. 1950) [Panic of 1901](https://en.wikipedia.org/wiki/Panic_of_1901 "Panic of 1901") (1902–1904) [Cobalt silver rush](https://en.wikipedia.org/wiki/Cobalt_silver_rush "Cobalt silver rush") (1903–c. 1930) [Panic of 1907](https://en.wikipedia.org/wiki/Panic_of_1907 "Panic of 1907") (1907–1908) [Porcupine Gold Rush](https://en.wikipedia.org/wiki/Porcupine_Gold_Rush "Porcupine Gold Rush") (1909–c. 1960) [Panic of 1910–11](https://en.wikipedia.org/wiki/Panic_of_1910%E2%80%9311 "Panic of 1910–11") (1910–1912) [Financial crisis of 1914](https://en.wikipedia.org/wiki/Financial_crisis_of_1914 "Financial crisis of 1914") (1913–14) \| \| World War home fronts/ [Interwar period](https://en.wikipedia.org/wiki/Interwar_period "Interwar period") (1914–1945) \| [World War I economy](https://en.wikipedia.org/wiki/Economic_history_of_World_War_I "Economic history of World War I") and [home fronts](https://en.wikipedia.org/wiki/Home_front_during_World_War_I "Home front during World War I") [Australia](https://en.wikipedia.org/wiki/Australia_in_World_War_I#Home_front "Australia in World War I") [Canada](https://en.wikipedia.org/wiki/Canada_in_World_War_I#Home_Front "Canada in World War I") [United Kingdom](https://en.wikipedia.org/wiki/History_of_the_United_Kingdom_during_the_First_World_War "History of the United Kingdom during the First World War") [United States](https://en.wikipedia.org/wiki/United_States_home_front_during_World_War_I "United States home front during World War I") [Post–World War I recession](https://en.wikipedia.org/wiki/Post%E2%80%93World_War_I_recession "Post–World War I recession") (1918–1919) [Recession of 1920–1921](https://en.wikipedia.org/wiki/Recession_of_1920%E2%80%931921 "Recession of 1920–1921") [1920s Florida land boom](https://en.wikipedia.org/wiki/Florida_land_boom_of_the_1920s "Florida land boom of the 1920s") (c. 1920–1925) [Roaring Twenties](https://en.wikipedia.org/wiki/Roaring_Twenties "Roaring Twenties") [1923–1924 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [1926–1927 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Free_Banking_Era_to_the_Great_Depression_$1836%E2%80%931929$ "List of recessions in the United States") [Great Depression](https://en.wikipedia.org/wiki/Great_Depression "Great Depression") 1929–1939; [Wall Street crash of 1929](https://en.wikipedia.org/wiki/Wall_Street_crash_of_1929 "Wall Street crash of 1929") [Panic of 1930](https://en.wikipedia.org/wiki/Panic_of_1930 "Panic of 1930") [Great Contraction](https://en.wikipedia.org/wiki/Great_Contraction "Great Contraction"), 1929–1933 [Recession of 1937–1938](https://en.wikipedia.org/wiki/Recession_of_1937%E2%80%931938 "Recession of 1937–1938") [Australia](https://en.wikipedia.org/wiki/Great_Depression_in_Australia "Great Depression in Australia") [Canada](https://en.wikipedia.org/wiki/Great_Depression_in_Canada "Great Depression in Canada") [India](https://en.wikipedia.org/wiki/Great_Depression_in_India "Great Depression in India") [South Africa](https://en.wikipedia.org/wiki/Great_Depression_in_South_Africa "Great Depression in South Africa") [United Kingdom](https://en.wikipedia.org/wiki/Great_Depression_in_the_United_Kingdom "Great Depression in the United Kingdom") [United States](https://en.wikipedia.org/wiki/Great_Depression_in_the_United_States "Great Depression in the United States") [1930s Kakamega gold rush](https://en.wikipedia.org/wiki/Kakamega_gold_rush "Kakamega gold rush") [Third Nova Scotia Gold Rush](https://en.wikipedia.org/wiki/Gold_mining_in_Nova_Scotia "Gold mining in Nova Scotia") (1932–1942) [World War II home front](https://en.wikipedia.org/wiki/Home_front_during_World_War_II "Home front during World War II") [Australia](https://en.wikipedia.org/wiki/Australian_home_front_during_World_War_II "Australian home front during World War II") [Canada](https://en.wikipedia.org/wiki/Canada_in_World_War_II#Home_front "Canada in World War II") [United Kingdom](https://en.wikipedia.org/wiki/British_home_front_during_World_War_II "British home front during World War II") [United States](https://en.wikipedia.org/wiki/United_States_home_front_during_World_War_II "United States home front during World War II") \| \| [Post–WWII expansion](https://en.wikipedia.org/wiki/Post%E2%80%93World_War_II_economic_expansion "Post–World War II economic expansion")/ [1970s stagflation](https://en.wikipedia.org/wiki/Stagflation "Stagflation") (1945–1982) \| [Great Compression](https://en.wikipedia.org/wiki/Great_Compression "Great Compression") [1945 recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States#Great_Depression_onward_$1929%E2%80%93present$ "List of recessions in the United States") [Recession of 1949](https://en.wikipedia.org/wiki/Recession_of_1949 "Recession of 1949") (1948–1949) [Hong Kong and Singapore Asian Tiger expansions](https://en.wikipedia.org/wiki/Four_Asian_Tigers "Four Asian Tigers") (1950–1990) [1951 Canada recession](https://en.wikipedia.org/wiki/List_of_recessions_in_Canada "List of recessions in Canada") [Recession of 1953](https://en.wikipedia.org/wiki/Recession_of_1953 "Recession of 1953") (1953–1954) [Recession of 1958](https://en.wikipedia.org/wiki/Recession_of_1958 "Recession of 1958") (1957–1958) [Recession of 1960–1961](https://en.wikipedia.org/wiki/Recession_of_1960%E2%80%931961 "Recession of 1960–1961") [Kennedy Slide of 1962](https://en.wikipedia.org/wiki/Kennedy_Slide_of_1962 "Kennedy Slide of 1962") [Poseidon bubble](https://en.wikipedia.org/wiki/Poseidon_bubble "Poseidon bubble") (1969–1970) [Recession of 1969–1970](https://en.wikipedia.org/wiki/Recession_of_1969%E2%80%931970 "Recession of 1969–1970") [1970s commodities boom](https://en.wikipedia.org/wiki/1970s_commodities_boom "1970s commodities boom") [1973–1975 recession](https://en.wikipedia.org/wiki/1973%E2%80%931975_recession "1973–1975 recession") [1973–1974 stock market crash](https://en.wikipedia.org/wiki/1973%E2%80%931974_stock_market_crash "1973–1974 stock market crash") [Secondary banking crisis of 1973–1975](https://en.wikipedia.org/wiki/Secondary_banking_crisis_of_1973%E2%80%931975 "Secondary banking crisis of 1973–1975") [1970s energy crisis](https://en.wikipedia.org/wiki/1970s_energy_crisis "1970s energy crisis") 1973–1980; [1973 oil crisis](https://en.wikipedia.org/wiki/1973_oil_crisis "1973 oil crisis") [1979 oil crisis](https://en.wikipedia.org/wiki/1979_oil_crisis "1979 oil crisis") [Steel crisis](https://en.wikipedia.org/wiki/Steel_crisis "Steel crisis") (1973–1982) [1976 sterling crisis](https://en.wikipedia.org/wiki/1976_sterling_crisis "1976 sterling crisis") [Silver Thursday](https://en.wikipedia.org/wiki/Silver_Thursday "Silver Thursday") (1980) [Early 1980s recession](https://en.wikipedia.org/wiki/Early_1980s_recession "Early 1980s recession") 1980–1982; [United States](https://en.wikipedia.org/wiki/Early_1980s_recession_in_the_United_States "Early 1980s recession in the United States") \| \| [Computer Age](https://en.wikipedia.org/wiki/Information_Age "Information Age")/ [Second Gilded Age](https://en.wikipedia.org/wiki/Second_Gilded_Age "Second Gilded Age") (1982–present) \| [Great Moderation](https://en.wikipedia.org/wiki/Great_Moderation "Great Moderation") (1982–2007) [1980s oil glut](https://en.wikipedia.org/wiki/1980s_oil_glut "1980s oil glut") [Black Saturday](https://en.wikipedia.org/wiki/Black_Saturday_$1983$ "Black Saturday (1983)") (1983) [New Zealand property bubble](https://en.wikipedia.org/wiki/New_Zealand_property_bubble "New Zealand property bubble") (c. 1985–) [Savings and loan crisis](https://en.wikipedia.org/wiki/Savings_and_loan_crisis "Savings and loan crisis") (1986–1995) [Black Monday](https://en.wikipedia.org/wiki/Black_Monday_$1987$ "Black Monday (1987)") (1987) [Friday the 13th mini-crash](https://en.wikipedia.org/wiki/Friday_the_13th_mini-crash "Friday the 13th mini-crash") (1989) [Early 1990s recession](https://en.wikipedia.org/wiki/Early_1990s_recession "Early 1990s recession") 1990–1991; [Australia](https://en.wikipedia.org/wiki/Early_1990s_recession_in_Australia "Early 1990s recession in Australia") [United States](https://en.wikipedia.org/wiki/Early_1990s_recession_in_the_United_States "Early 1990s recession in the United States") [1990 oil price shock](https://en.wikipedia.org/wiki/1990_oil_price_shock "1990 oil price shock") [Rhode Island banking crisis](https://en.wikipedia.org/wiki/Rhode_Island_banking_crisis "Rhode Island banking crisis") (1990–1992) [1991 Indian economic crisis](https://en.wikipedia.org/wiki/1991_Indian_economic_crisis "1991 Indian economic crisis") [1990s United States boom](https://en.wikipedia.org/wiki/1990s_United_States_boom "1990s United States boom") (1991–2001) [1990s India economic boom](https://en.wikipedia.org/wiki/Economic_liberalisation_in_India "Economic liberalisation in India") [Hyperinflation in Zimbabwe](https://en.wikipedia.org/wiki/Hyperinflation_in_Zimbabwe "Hyperinflation in Zimbabwe") (1991–present) [Black Wednesday](https://en.wikipedia.org/wiki/Black_Wednesday "Black Wednesday") (1992) [1994 bond market crisis](https://en.wikipedia.org/wiki/1994_bond_market_crisis "1994 bond market crisis") [1994 Papua New Guinea financial crisis](https://en.wikipedia.org/wiki/1994_Papua_New_Guinea_financial_crisis "1994 Papua New Guinea financial crisis") [Dot-com bubble](https://en.wikipedia.org/wiki/Dot-com_bubble "Dot-com bubble") 1995–2004; [Stock market downturn of 2002](https://en.wikipedia.org/wiki/Stock_market_downturn_of_2002 "Stock market downturn of 2002") [1997 Asian financial crisis](https://en.wikipedia.org/wiki/1997_Asian_financial_crisis "1997 Asian financial crisis") [October 27, 1997, mini-crash](https://en.wikipedia.org/wiki/October_27,_1997,_mini-crash "October 27, 1997, mini-crash") [Early 2000s recession](https://en.wikipedia.org/wiki/Early_2000s_recession "Early 2000s recession") 2001; [9/11 stock market crash](https://en.wikipedia.org/wiki/Economic_effects_of_the_September_11_attacks "Economic effects of the September 11 attacks") [2000s commodities boom](https://en.wikipedia.org/wiki/2000s_commodities_boom "2000s commodities boom") (2000–2014) [United States housing bubble](https://en.wikipedia.org/wiki/2000s_United_States_housing_bubble "2000s United States housing bubble") (2002–2006) [Canadian property bubble](https://en.wikipedia.org/wiki/Canadian_property_bubble "Canadian property bubble") (2002–) [2003 Myanmar banking crisis](https://en.wikipedia.org/wiki/2003_Myanmar_banking_crisis "2003 Myanmar banking crisis") [2000s energy crisis](https://en.wikipedia.org/wiki/2000s_energy_crisis "2000s energy crisis") (2003–2008) [North Dakota oil boom](https://en.wikipedia.org/wiki/North_Dakota_oil_boom "North Dakota oil boom") (2006–2015) [Uranium bubble of 2007](https://en.wikipedia.org/wiki/Uranium_bubble_of_2007 "Uranium bubble of 2007") [Great Recession](https://en.wikipedia.org/wiki/Great_Recession "Great Recession") 2007–2009; [Australia and New Zealand](https://en.wikipedia.org/wiki/Great_Recession_in_Oceania "Great Recession in Oceania") [Bangladesh, India, Malaysia, Pakistan, and Sri Lanka](https://en.wikipedia.org/wiki/Great_Recession_in_Asia "Great Recession in Asia") [British West Indies](https://en.wikipedia.org/wiki/Great_Recession_in_South_America "Great Recession in South America") [Canada](https://en.wikipedia.org/wiki/Great_Recession_in_the_Americas "Great Recession in the Americas") [South Africa](https://en.wikipedia.org/wiki/Great_Recession_in_Africa "Great Recession in Africa") [United Kingdom](https://en.wikipedia.org/wiki/Great_Recession_in_Europe#United_Kingdom "Great Recession in Europe") [United States](https://en.wikipedia.org/wiki/Great_Recession_in_the_United_States "Great Recession in the United States") [2008 financial crisis](https://en.wikipedia.org/wiki/2008_financial_crisis "2008 financial crisis") [September](https://en.wikipedia.org/wiki/Global_financial_crisis_in_September_2008 "Global financial crisis in September 2008") [October](https://en.wikipedia.org/wiki/Global_financial_crisis_in_October_2008 "Global financial crisis in October 2008") [November](https://en.wikipedia.org/wiki/Global_financial_crisis_in_November_2008 "Global financial crisis in November 2008") [December](https://en.wikipedia.org/wiki/Global_financial_crisis_in_December_2008 "Global financial crisis in December 2008") [2009](https://en.wikipedia.org/wiki/Global_financial_crisis_in_2009 "Global financial crisis in 2009") [Subprime mortgage crisis](https://en.wikipedia.org/wiki/Subprime_mortgage_crisis "Subprime mortgage crisis") [2000s U.S. housing market correction](https://en.wikipedia.org/wiki/2000s_United_States_housing_market_correction "2000s United States housing market correction") [U.S. bear market of 2007–2009](https://en.wikipedia.org/wiki/United_States_bear_market_of_2007%E2%80%932009 "United States bear market of 2007–2009") [2007–2010 U.S. bank failures](https://en.wikipedia.org/wiki/List_of_banks_acquired_or_bankrupted_in_the_United_States_during_the_2008_financial_crisis "List of banks acquired or bankrupted in the United States during the 2008 financial crisis") [Corporate debt bubble](https://en.wikipedia.org/wiki/Corporate_debt_bubble "Corporate debt bubble") (2008–) [Blue Monday Crash 2009](https://en.wikipedia.org/wiki/Blue_Monday_Crash_2009 "Blue Monday Crash 2009") [2010 flash crash](https://en.wikipedia.org/wiki/2010_flash_crash "2010 flash crash") [Malaysia Tiger Cub expansion](https://en.wikipedia.org/wiki/Tiger_Cub_Economies "Tiger Cub Economies") (2010s) [Australian property bubble](https://en.wikipedia.org/wiki/Australian_property_bubble "Australian property bubble") (2010–) [August 2011 stock markets fall](https://en.wikipedia.org/wiki/August_2011_stock_markets_fall "August 2011 stock markets fall") [Black Monday](https://en.wikipedia.org/wiki/Black_Monday_$2011$ "Black Monday (2011)") [2011 Bangladesh share market scam](https://en.wikipedia.org/wiki/2011_Bangladesh_share_market_scam "2011 Bangladesh share market scam") [Cryptocurrency bubble](https://en.wikipedia.org/wiki/Cryptocurrency_bubble "Cryptocurrency bubble") (2011–) [Puerto Rican government-debt crisis](https://en.wikipedia.org/wiki/Puerto_Rican_government-debt_crisis "Puerto Rican government-debt crisis") (2014–2022) [2015–2016 stock market selloff](https://en.wikipedia.org/wiki/2015%E2%80%932016_stock_market_selloff "2015–2016 stock market selloff") [Brexit stock market crash](https://en.wikipedia.org/wiki/Economic_effects_of_Brexit "Economic effects of Brexit") (2016) [2017 Sri Lankan fuel crisis](https://en.wikipedia.org/wiki/2017_Sri_Lankan_fuel_crisis "2017 Sri Lankan fuel crisis") [Ghana banking crisis](https://en.wikipedia.org/wiki/Ghana_banking_crisis "Ghana banking crisis") (2017–2018) [Sri Lankan economic crisis](https://en.wikipedia.org/wiki/Sri_Lankan_economic_crisis_$2019%E2%80%932024$ "Sri Lankan economic crisis (2019–2024)") (2019–2024) [COVID-19 recession](https://en.wikipedia.org/wiki/COVID-19_recession "COVID-19 recession") 2020–2022; [2020 stock market crash](https://en.wikipedia.org/wiki/2020_stock_market_crash "2020 stock market crash") [financial market impact](https://en.wikipedia.org/wiki/Financial_market_impact_of_the_COVID-19_pandemic "Financial market impact of the COVID-19 pandemic") [sectoral impacts](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic "Economic impact of the COVID-19 pandemic") [shortages](https://en.wikipedia.org/wiki/Shortages_related_to_the_COVID-19_pandemic "Shortages related to the COVID-19 pandemic") [Canada](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Canada "Economic impact of the COVID-19 pandemic in Canada") [India](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_India "Economic impact of the COVID-19 pandemic in India") [Malaysia](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_Malaysia "Economic impact of the COVID-19 pandemic in Malaysia") [New Zealand](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_New_Zealand "Economic impact of the COVID-19 pandemic in New Zealand") [United Kingdom](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_Kingdom "Economic impact of the COVID-19 pandemic in the United Kingdom") [United States](https://en.wikipedia.org/wiki/Economic_impact_of_the_COVID-19_pandemic_in_the_United_States "Economic impact of the COVID-19 pandemic in the United States") [2020s commodities boom](https://en.wikipedia.org/wiki/2020s_commodities_boom "2020s commodities boom") [Global energy crisis](https://en.wikipedia.org/wiki/Global_energy_crisis_$2021%E2%80%932023$ "Global energy crisis (2021–2023)") 2021–2023; [2021 United Kingdom natural gas supplier crisis](https://en.wikipedia.org/wiki/2021_United_Kingdom_natural_gas_supplier_crisis "2021 United Kingdom natural gas supplier crisis") [regional effects](https://en.wikipedia.org/wiki/Regional_effects_of_the_2021%E2%80%932023_global_energy_crisis "Regional effects of the 2021–2023 global energy crisis") [2021–2023 global supply chain crisis](https://en.wikipedia.org/wiki/2021%E2%80%932023_global_supply_chain_crisis "2021–2023 global supply chain crisis") [2021–2023 inflation surge](https://en.wikipedia.org/wiki/2021%E2%80%932023_inflation_surge "2021–2023 inflation surge") [Pakistani economic crisis](https://en.wikipedia.org/wiki/Pakistani_economic_crisis_$2021%E2%80%932024$ "Pakistani economic crisis (2021–2024)") (2021–2024) [2022 stock market decline]() [2022–2023 global food crises](https://en.wikipedia.org/wiki/2022%E2%80%932023_global_food_crises "2022–2023 global food crises") [2023 United Kingdom recession](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_Kingdom "List of recessions in the United Kingdom") [2023 United States banking crisis](https://en.wikipedia.org/wiki/2023_United_States_banking_crisis "2023 United States banking crisis") [2025 stock market crash](https://en.wikipedia.org/wiki/2025_stock_market_crash "2025 stock market crash") \| \| Countries and sectors \| [Australia](https://en.wikipedia.org/wiki/Economic_history_of_Australia "Economic history of Australia") [rail transport](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Australia "History of rail transport in Australia") [slavery](https://en.wikipedia.org/wiki/Slavery_in_Australia "Slavery in Australia") [whaling](https://en.wikipedia.org/wiki/Whaling_in_Australia "Whaling in Australia")/[Western Australia](https://en.wikipedia.org/wiki/Whaling_in_Western_Australia "Whaling in Western Australia") [Canada](https://en.wikipedia.org/wiki/Economic_history_of_Canada "Economic history of Canada") [agriculture](https://en.wikipedia.org/wiki/History_of_agriculture_in_Canada "History of agriculture in Canada") [currencies](https://en.wikipedia.org/wiki/History_of_Canadian_currencies "History of Canadian currencies") [early banking system](https://en.wikipedia.org/wiki/Early_Canadian_banking_system "Early Canadian banking system") [list of recessions](https://en.wikipedia.org/wiki/List_of_recessions_in_Canada "List of recessions in Canada") [petroleum industry](https://en.wikipedia.org/wiki/History_of_the_petroleum_industry_in_Canada "History of the petroleum industry in Canada") [rail transport](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Canada "History of rail transport in Canada") [slavery](https://en.wikipedia.org/wiki/Slavery_in_Canada "Slavery in Canada") [technological and industrial](https://en.wikipedia.org/wiki/Technological_and_industrial_history_of_Canada "Technological and industrial history of Canada") [whaling](https://en.wikipedia.org/wiki/Whaling_in_Canada "Whaling in Canada")/[Pacific Northwest](https://en.wikipedia.org/wiki/Whaling_on_the_Pacific_Northwest_Coast "Whaling on the Pacific Northwest Coast") [Ghana](https://en.wikipedia.org/wiki/Economic_history_of_Ghana "Economic history of Ghana") [India](https://en.wikipedia.org/wiki/Economic_history_of_India "Economic history of India") [agriculture](https://en.wikipedia.org/wiki/History_of_agriculture_in_the_Indian_subcontinent "History of agriculture in the Indian subcontinent") [Company rule](https://en.wikipedia.org/wiki/Economy_of_India_under_Company_rule "Economy of India under Company rule") [maritime](https://en.wikipedia.org/wiki/Indian_maritime_history "Indian maritime history") [British Raj](https://en.wikipedia.org/wiki/Economy_of_India_under_the_British_Raj "Economy of India under the British Raj") [Deindustrialisation](https://en.wikipedia.org/wiki/De-industrialisation_of_India "De-industrialisation of India") [salt tax](https://en.wikipedia.org/wiki/History_of_the_salt_tax_in_British_India "History of the salt tax in British India") [slavery](https://en.wikipedia.org/wiki/Slavery_in_India "Slavery in India") [Malaysia](https://en.wikipedia.org/wiki/Economic_history_of_Malaysia "Economic history of Malaysia") [New Zealand](https://en.wikipedia.org/wiki/Economic_history_of_New_Zealand "Economic history of New Zealand") [whaling](https://en.wikipedia.org/wiki/Whaling_in_New_Zealand "Whaling in New Zealand") [Nigeria](https://en.wikipedia.org/wiki/Economic_history_of_Nigeria "Economic history of Nigeria") [slavery](https://en.wikipedia.org/wiki/Slavery_in_Nigeria "Slavery in Nigeria") [Pakistan](https://en.wikipedia.org/wiki/Economic_history_of_Pakistan "Economic history of Pakistan") [maritime](https://en.wikipedia.org/wiki/Maritime_history_of_Pakistan "Maritime history of Pakistan") [rail transport](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Pakistan "History of rail transport in Pakistan") [South Africa](https://en.wikipedia.org/wiki/Economic_history_of_South_Africa "Economic history of South Africa") [slavery](https://en.wikipedia.org/wiki/Slavery_in_South_Africa "Slavery in South Africa") [whaling](https://en.wikipedia.org/wiki/Whaling_in_South_Africa "Whaling in South Africa") [Uganda](https://en.wikipedia.org/wiki/Economic_history_of_Uganda "Economic history of Uganda") [United Kingdom](https://en.wikipedia.org/wiki/Economic_history_of_the_United_Kingdom "Economic history of the United Kingdom") [Agricultural Revolution](https://en.wikipedia.org/wiki/British_Agricultural_Revolution "British Agricultural Revolution") [Atlantic slave trade](https://en.wikipedia.org/wiki/Atlantic_slave_trade "Atlantic slave trade") [banking](https://en.wikipedia.org/wiki/History_of_banking_in_the_United_Kingdom "History of banking in the United Kingdom") [British Empire](https://en.wikipedia.org/wiki/Economy_of_the_British_Empire "Economy of the British Empire") [English fiscal system](https://en.wikipedia.org/wiki/History_of_the_English_fiscal_system "History of the English fiscal system") [Interwar unemployment and poverty](https://en.wikipedia.org/wiki/Interwar_unemployment_and_poverty_in_the_United_Kingdom "Interwar unemployment and poverty in the United Kingdom") [list of recessions](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_Kingdom "List of recessions in the United Kingdom") [maritime](https://en.wikipedia.org/wiki/Maritime_history_of_the_United_Kingdom "Maritime history of the United Kingdom")/[England](https://en.wikipedia.org/wiki/Maritime_history_of_England "Maritime history of England")/[Scotland](https://en.wikipedia.org/wiki/Maritime_history_of_Scotland "Maritime history of Scotland") [Middle Ages England](https://en.wikipedia.org/wiki/Economy_of_England_in_the_Middle_Ages "Economy of England in the Middle Ages")/[agriculture](https://en.wikipedia.org/wiki/Economics_of_English_agriculture_in_the_Middle_Ages "Economics of English agriculture in the Middle Ages") [national debt](https://en.wikipedia.org/wiki/History_of_the_British_national_debt "History of the British national debt") [Scotland](https://en.wikipedia.org/wiki/Economic_history_of_Scotland "Economic history of Scotland")/[agriculture](https://en.wikipedia.org/wiki/History_of_agriculture_in_Scotland "History of agriculture in Scotland")/[Middle Ages](https://en.wikipedia.org/wiki/Economy_of_Scotland_in_the_Middle_Ages "Economy of Scotland in the Middle Ages") [rail transport](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain "History of rail transport in Great Britain")/[pre–1830](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain_to_1830 "History of rail transport in Great Britain to 1830")/[1830–1922](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain_1830%E2%80%931922 "History of rail transport in Great Britain 1830–1922")/[1923–1947](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain_1923%E2%80%931947 "History of rail transport in Great Britain 1923–1947")/[1948–1994](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain_1948%E2%80%931994 "History of rail transport in Great Britain 1948–1994")/[1995–present](https://en.wikipedia.org/wiki/History_of_rail_transport_in_Great_Britain_1995_to_date "History of rail transport in Great Britain 1995 to date") [slavery](https://en.wikipedia.org/wiki/Slavery_in_Britain "Slavery in Britain") [trade unions](https://en.wikipedia.org/wiki/History_of_trade_unions_in_the_United_Kingdom "History of trade unions in the United Kingdom") [Victorian era](https://en.wikipedia.org/wiki/Economy,_industry,_and_trade_of_the_Victorian_era "Economy, industry, and trade of the Victorian era") [Wales](https://en.wikipedia.org/wiki/Economic_history_of_Wales "Economic history of Wales") [whaling](https://en.wikipedia.org/wiki/Whaling_in_the_United_Kingdom "Whaling in the United Kingdom")/[Scotland](https://en.wikipedia.org/wiki/Whaling_in_Scotland "Whaling in Scotland") [United States](https://en.wikipedia.org/wiki/Economic_history_of_the_United_States "Economic history of the United States") [agriculture](https://en.wikipedia.org/wiki/History_of_agriculture_in_the_United_States "History of agriculture in the United States") [banking](https://en.wikipedia.org/wiki/History_of_banking_in_the_United_States "History of banking in the United States")/[colonial-era credit](https://en.wikipedia.org/wiki/Credit_in_the_Thirteen_Colonies "Credit in the Thirteen Colonies")/[cooperatives](https://en.wikipedia.org/wiki/History_of_cooperatives_in_the_United_States "History of cooperatives in the United States")/[investment banking](https://en.wikipedia.org/wiki/History_of_investment_banking_in_the_United_States "History of investment banking in the United States")/[wildcat banking](https://en.wikipedia.org/wiki/Wildcat_banking "Wildcat banking") [business](https://en.wikipedia.org/wiki/American_business_history "American business history") [central banking](https://en.wikipedia.org/wiki/History_of_central_banking_in_the_United_States "History of central banking in the United States") [coal mining](https://en.wikipedia.org/wiki/History_of_coal_mining_in_the_United_States "History of coal mining in the United States") [indentured servitude](https://en.wikipedia.org/wiki/Indentured_servitude_in_British_America "Indentured servitude in British America") [iron and steel industry](https://en.wikipedia.org/wiki/History_of_the_iron_and_steel_industry_in_the_United_States "History of the iron and steel industry in the United States") [labor](https://en.wikipedia.org/wiki/Labor_history_of_the_United_States "Labor history of the United States") [list of economic expansions](https://en.wikipedia.org/wiki/List_of_economic_expansions_in_the_United_States "List of economic expansions in the United States") [list of recessions](https://en.wikipedia.org/wiki/List_of_recessions_in_the_United_States "List of recessions in the United States") [lumber industry](https://en.wikipedia.org/wiki/History_of_the_lumber_industry_in_the_United_States "History of the lumber industry in the United States") [maritime](https://en.wikipedia.org/wiki/History_of_the_United_States_Merchant_Marine "History of the United States Merchant Marine")/[colonial-era](https://en.wikipedia.org/wiki/Maritime_history_of_Colonial_America "Maritime history of Colonial America")/[1776–1799](https://en.wikipedia.org/wiki/Maritime_history_of_the_United_States_$1776%E2%80%931799$ "Maritime history of the United States (1776–1799)")/[1800–1899](https://en.wikipedia.org/wiki/Maritime_history_of_the_United_States_$1800%E2%80%931899$ "Maritime history of the United States (1800–1899)")/[1900–1999](https://en.wikipedia.org/wiki/Maritime_history_of_the_United_States_$1900%E2%80%931999$ "Maritime history of the United States (1900–1999)")/[2000–present](https://en.wikipedia.org/wiki/Maritime_history_of_the_United_States_$2000%E2%80%93present$ "Maritime history of the United States (2000–present)") [monetary policy](https://en.wikipedia.org/wiki/History_of_monetary_policy_in_the_United_States "History of monetary policy in the United States") [poverty](https://en.wikipedia.org/wiki/History_of_poverty_in_the_United_States "History of poverty in the United States") [petroleum industry](https://en.wikipedia.org/wiki/History_of_the_petroleum_industry_in_the_United_States "History of the petroleum industry in the United States")/[oil shale](https://en.wikipedia.org/wiki/History_of_the_oil_shale_industry_in_the_United_States "History of the oil shale industry in the United States") [public debt](https://en.wikipedia.org/wiki/History_of_the_United_States_public_debt "History of the United States public debt") [rail transportation](https://en.wikipedia.org/wiki/History_of_rail_transportation_in_the_United_States "History of rail transportation in the United States") [slavery](https://en.wikipedia.org/wiki/Slavery_in_the_United_States "Slavery in the United States")/[colonial-era slavery](https://en.wikipedia.org/wiki/Slavery_in_the_colonial_history_of_the_United_States "Slavery in the colonial history of the United States")/[forced labor](https://en.wikipedia.org/wiki/History_of_forced_labor_in_the_United_States "History of forced labor in the United States")/[slave trade](https://en.wikipedia.org/wiki/Slave_trade_in_the_United_States "Slave trade in the United States")/[slave markets](https://en.wikipedia.org/wiki/Slave_markets_and_slave_jails_in_the_United_States "Slave markets and slave jails in the United States") [tariffs](https://en.wikipedia.org/wiki/History_of_tariffs_in_the_United_States "History of tariffs in the United States") [taxation](https://en.wikipedia.org/wiki/History_of_taxation_in_the_United_States "History of taxation in the United States") [technological and industrial](https://en.wikipedia.org/wiki/Technological_and_industrial_history_of_the_United_States "Technological and industrial history of the United States") [United States dollar](https://en.wikipedia.org/wiki/History_of_the_United_States_dollar "History of the United States dollar") [whaling](https://en.wikipedia.org/wiki/Whaling_in_the_United_States "Whaling in the United States") [Zimbabwe](https://en.wikipedia.org/wiki/Economic_history_of_Zimbabwe "Economic history of Zimbabwe") \| \| [Business cycle](https://en.wikipedia.org/wiki/Business_cycle "Business cycle") topics \| [Aggregate demand](https://en.wikipedia.org/wiki/Aggregate_demand "Aggregate demand")/[Supply](https://en.wikipedia.org/wiki/Aggregate_supply "Aggregate supply") [Effective demand](https://en.wikipedia.org/wiki/Effective_demand "Effective demand") [General glut](https://en.wikipedia.org/wiki/General_glut "General glut") [Model](https://en.wikipedia.org/wiki/AD%E2%80%93AS_model "AD–AS model") [Overproduction](https://en.wikipedia.org/wiki/Overproduction "Overproduction") [Paradox of thrift](https://en.wikipedia.org/wiki/Paradox_of_thrift "Paradox of thrift") [Price-and-wage stickiness](https://en.wikipedia.org/wiki/Nominal_rigidity "Nominal rigidity") [Underconsumption](https://en.wikipedia.org/wiki/Underconsumption "Underconsumption") [Inflation](https://en.wikipedia.org/wiki/Inflation "Inflation") and [unemployment](https://en.wikipedia.org/wiki/Unemployment "Unemployment") [Chronic](https://en.wikipedia.org/wiki/Chronic_inflation "Chronic inflation") [Classical dichotomy](https://en.wikipedia.org/wiki/Classical_dichotomy "Classical dichotomy") [Debasement](https://en.wikipedia.org/wiki/Debasement "Debasement") [Debt monetization](https://en.wikipedia.org/wiki/Debt_monetization "Debt monetization") [Demand-pull](https://en.wikipedia.org/wiki/Demand-pull_inflation "Demand-pull inflation")/[cost-push](https://en.wikipedia.org/wiki/Cost-push_inflation "Cost-push inflation")/[built-in inflation](https://en.wikipedia.org/wiki/Inertial_inflation "Inertial inflation") [Deflation](https://en.wikipedia.org/wiki/Deflation "Deflation") [Disinflation](https://en.wikipedia.org/wiki/Disinflation "Disinflation") [Full employment](https://en.wikipedia.org/wiki/Full_employment "Full employment") [Hyperinflation](https://en.wikipedia.org/wiki/Hyperinflation "Hyperinflation") [Money supply](https://en.wikipedia.org/wiki/Money_supply "Money supply")/[demand](https://en.wikipedia.org/wiki/Demand_for_money "Demand for money") [NAIRU](https://en.wikipedia.org/wiki/NAIRU "NAIRU") [Natural rate of unemployment](https://en.wikipedia.org/wiki/Natural_rate_of_unemployment "Natural rate of unemployment") [Neutrality of money](https://en.wikipedia.org/wiki/Neutrality_of_money "Neutrality of money") [Phillips curve](https://en.wikipedia.org/wiki/Phillips_curve "Phillips curve") [Price level](https://en.wikipedia.org/wiki/Price_level "Price level") [Real and nominal value](https://en.wikipedia.org/wiki/Real_and_nominal_value "Real and nominal value") [Sahm rule](https://en.wikipedia.org/wiki/Sahm_rule "Sahm rule") [Velocity of money](https://en.wikipedia.org/wiki/Velocity_of_money "Velocity of money") [Expansion](https://en.wikipedia.org/wiki/Economic_expansion "Economic expansion") [Miracle](https://en.wikipedia.org/wiki/Economic_miracle "Economic miracle") [Recovery](https://en.wikipedia.org/wiki/Economic_recovery "Economic recovery") [Stagnation](https://en.wikipedia.org/wiki/Economic_stagnation "Economic stagnation") [Interest rate](https://en.wikipedia.org/wiki/Interest_rate "Interest rate") [Nominal interest rate](https://en.wikipedia.org/wiki/Nominal_interest_rate "Nominal interest rate") [Real interest rate](https://en.wikipedia.org/wiki/Real_interest_rate "Real interest rate") [Yield curve](https://en.wikipedia.org/wiki/Yield_curve "Yield curve")/[Inverted](https://en.wikipedia.org/wiki/Inverted_yield_curve "Inverted yield curve") [Recession](https://en.wikipedia.org/wiki/Recession "Recession") [Balance sheet](https://en.wikipedia.org/wiki/Balance_sheet_recession "Balance sheet recession") [Depression](https://en.wikipedia.org/wiki/Economic_depression "Economic depression") [Global](https://en.wikipedia.org/wiki/Global_recession "Global recession") [Rolling](https://en.wikipedia.org/wiki/Rolling_recession "Rolling recession") [Shapes](https://en.wikipedia.org/wiki/Recession_shapes "Recession shapes") [Stagflation](https://en.wikipedia.org/wiki/Stagflation "Stagflation") [Shock](https://en.wikipedia.org/wiki/Shock_$economics$ "Shock (economics)") [Demand](https://en.wikipedia.org/wiki/Demand_shock "Demand shock") [Supply](https://en.wikipedia.org/wiki/Supply_shock "Supply shock") \| \| [Credit cycle](https://en.wikipedia.org/wiki/Credit_cycle "Credit cycle") topics \| [Financial bubble](https://en.wikipedia.org/wiki/Economic_bubble "Economic bubble") [Commodity booms](https://en.wikipedia.org/wiki/List_of_commodity_booms "List of commodity booms")/[diamond rush](https://en.wikipedia.org/wiki/Diamond_rush "Diamond rush")/[gold rush](https://en.wikipedia.org/wiki/Gold_rush "Gold rush")/[oil boom](https://en.wikipedia.org/wiki/Oil_boom "Oil boom") [Real-estate bubble](https://en.wikipedia.org/wiki/Real-estate_bubble "Real-estate bubble")/[housing bubble](https://en.wikipedia.org/wiki/Housing_bubble "Housing bubble")/[boomtown](https://en.wikipedia.org/wiki/Boomtown "Boomtown")/[ghost town](https://en.wikipedia.org/wiki/Ghost_town "Ghost town") [Speculation](https://en.wikipedia.org/wiki/Speculation "Speculation") [Stock market bubble](https://en.wikipedia.org/wiki/Stock_market_bubble "Stock market bubble") [Financial crisis](https://en.wikipedia.org/wiki/Financial_crisis "Financial crisis") [Bank run](https://en.wikipedia.org/wiki/Bank_run "Bank run")/[bank failure](https://en.wikipedia.org/wiki/Bank_failure "Bank failure") [Commodity price shocks](https://en.wikipedia.org/wiki/Commodity_price_shocks "Commodity price shocks") [Credit crunch](https://en.wikipedia.org/wiki/Credit_crunch "Credit crunch") [Currency crisis](https://en.wikipedia.org/wiki/Currency_crisis "Currency crisis") [Debt crisis](https://en.wikipedia.org/wiki/Debt_crisis "Debt crisis") [Energy crisis](https://en.wikipedia.org/wiki/Energy_crisis "Energy crisis") [Liquidity crisis](https://en.wikipedia.org/wiki/Liquidity_crisis "Liquidity crisis")/[accounting](https://en.wikipedia.org/wiki/Accounting_liquidity "Accounting liquidity")/[capital](https://en.wikipedia.org/wiki/Liquid_capital "Liquid capital")/[funding](https://en.wikipedia.org/wiki/Funding_liquidity "Funding liquidity")/[market](https://en.wikipedia.org/wiki/Market_liquidity "Market liquidity") [Minsky moment](https://en.wikipedia.org/wiki/Minsky_moment "Minsky moment")/[leverage cycle](https://en.wikipedia.org/wiki/Leverage_cycle "Leverage cycle") [Stock market crash](https://en.wikipedia.org/wiki/Stock_market_crash "Stock market crash")/[Flash crash](https://en.wikipedia.org/wiki/Flash_crash "Flash crash") [Social contagion](https://en.wikipedia.org/wiki/Social_contagion "Social contagion") [Financial contagion](https://en.wikipedia.org/wiki/Financial_contagion "Financial contagion") [Irrational exuberance](https://en.wikipedia.org/wiki/Irrational_exuberance "Irrational exuberance") [Market trend](https://en.wikipedia.org/wiki/Market_trend "Market trend") Proposed bubbles [AI bubble](https://en.wikipedia.org/wiki/AI_bubble "AI bubble")/[AI boom](https://en.wikipedia.org/wiki/AI_boom "AI boom")/[Fourth Industrial Revolution](https://en.wikipedia.org/wiki/Fourth_Industrial_Revolution "Fourth Industrial Revolution")/[Imagination Age](https://en.wikipedia.org/wiki/Imagination_Age "Imagination Age") [Carbon bubble](https://en.wikipedia.org/wiki/Carbon_bubble "Carbon bubble")/[Age of Oil](https://en.wikipedia.org/wiki/Age_of_Oil "Age of Oil")/[Peak oil](https://en.wikipedia.org/wiki/Peak_oil "Peak oil") [Everything bubble](https://en.wikipedia.org/wiki/Everything_bubble "Everything bubble") [Green bubble](https://en.wikipedia.org/wiki/Green_bubble "Green bubble") [Social media stock bubble](https://en.wikipedia.org/wiki/Social_media_stock_bubble "Social media stock bubble") [Unicorn bubble](https://en.wikipedia.org/wiki/Unicorn_bubble "Unicorn bubble") [U.S. higher education bubble](https://en.wikipedia.org/wiki/Higher_education_bubble_in_the_United_States "Higher education bubble in the United States") \| ![](https://en.wikipedia.org/wiki/Special:CentralAutoLogin/start?useformat=desktop&type=1x1&usesul3=1) Retrieved from 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Readable Markdown	From Wikipedia, the free encyclopedia [![](https://upload.wikimedia.org/wikipedia/commons/thumb/f/f5/Dow_Jones_Industrial_Average.webp/330px-Dow_Jones_Industrial_Average.webp.png)](https://en.wikipedia.org/wiki/File:Dow_Jones_Industrial_Average.webp) [Dow Jones Industrial Average](https://en.wikipedia.org/wiki/Dow_Jones_Industrial_Average "Dow Jones Industrial Average") (1970–2023) [![](https://upload.wikimedia.org/wikipedia/commons/thumb/8/80/NASDAQ_Composite_Index.webp/330px-NASDAQ_Composite_Index.webp.png)](https://en.wikipedia.org/wiki/File:NASDAQ_Composite_Index.webp) [Nasdaq Composite Index](https://en.wikipedia.org/wiki/Nasdaq_Composite_Index "Nasdaq Composite Index") (1980–2023) [![](https://upload.wikimedia.org/wikipedia/commons/thumb/f/ff/S_%26_P_500.webp/330px-S_%26_P_500.webp.png)](https://en.wikipedia.org/wiki/File:S_%26_P_500.webp) [S\&P 500](https://en.wikipedia.org/wiki/S%26P_500 "S&P 500") (1970–2023) The 2022 stock market decline was a [bear market](https://en.wikipedia.org/wiki/Bear_market "Bear market") that included the decline of several stock market indices worldwide between January and October 2022. The decline was due to the highest inflation readings as part of the [2021–2023 inflation surge](https://en.wikipedia.org/wiki/2021%E2%80%932023_inflation_surge "2021–2023 inflation surge") and the resulting increases in interest rates, combined with the worst year for the bond market since [1994](https://en.wikipedia.org/wiki/1994_bond_market_crisis "1994 bond market crisis") with fears of a global [recession](https://en.wikipedia.org/wiki/Recession "Recession") due to a decline in [economic indicators](https://en.wikipedia.org/wiki/Economic_indicator "Economic indicator") and an [inverted yield curve](https://en.wikipedia.org/wiki/Inverted_yield_curve "Inverted yield curve"), exacerbated by [supply chain](https://en.wikipedia.org/wiki/Supply_chain "Supply chain") disruptions due to the [Russian invasion of Ukraine](https://en.wikipedia.org/wiki/Russian_invasion_of_Ukraine "Russian invasion of Ukraine") and uncertainty over the long-term effects of the [COVID-19 pandemic](https://en.wikipedia.org/wiki/COVID-19_pandemic "COVID-19 pandemic") on the economy.[\[1\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-1)[\[2\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-2) In 2021 many [central banks](https://en.wikipedia.org/wiki/Central_bank "Central bank") undertook a [zero interest rate policy](https://en.wikipedia.org/wiki/Zero_interest_rate_policy "Zero interest rate policy"), assuming the rise in inflation to be "temporary" or "transitory". In 2022, when inflation readings were much higher and stickier than originally expected, central banks rapidly tightened policy and reduced market liquidity. The [Federal Reserve](https://en.wikipedia.org/wiki/Federal_Reserve "Federal Reserve") raised interest rates 11 times starting in March 2022, resulting in the highest nominal interest rates since the 2000s.[\[3\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-3) It also reintroduced a policy of [quantitative tightening](https://en.wikipedia.org/wiki/Quantitative_tightening "Quantitative tightening") in June 2022.[\[4\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-4) The [European Central Bank](https://en.wikipedia.org/wiki/European_Central_Bank "European Central Bank") raised rates 10 consecutive times during the same period.[\[5\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-5) In the first quarter of 2022, U.S. gross domestic product (GDP) posted its first decline since the [COVID-19 recession](https://en.wikipedia.org/wiki/COVID-19_recession "COVID-19 recession"); decreasing at an annual rate of 1.0% in the first quarter of 2022.[\[6\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-6) GDP growth rates in the European Union also slowed significantly in the first half of 2022.[\[7\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-7) But the rate of inflation peaked in late 2022 and declined thereafter, while economic growth accelerated in the second half of 2022, ending fears of a recession and leading to a rebound in stock prices starting in late 2022. The end of the stock market decline was also a result of the start of the [AI boom](https://en.wikipedia.org/wiki/AI_boom "AI boom"), predictions of lower or stable interest rates, and predictions of a [soft landing](https://en.wikipedia.org/wiki/Soft_landing_$economics$ "Soft landing (economics)").[\[8\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-8) By 2023 and 2024, many stock market indices reached all-time highs.[\[9\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-9) ## Stock market performance \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=1 "Edit section: Stock market performance")\] In 2022 the [MSCI World](https://en.wikipedia.org/wiki/MSCI_World "MSCI World") Index index, which tracks [developed markets](https://en.wikipedia.org/wiki/Developed_market "Developed market"), was down 17.7%. The [emerging markets](https://en.wikipedia.org/wiki/Emerging_market "Emerging market") index declined 19.7%. Asia overall was down 20.8% due to a 21.8% decline in Chinese stocks, a 29.1% decline in Taiwan, and a 28.9% decline in Korea.[\[10\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-10) The [S\&P 500](https://en.wikipedia.org/wiki/S%26P_500 "S&P 500") peaked for the year at 4,796 on its January 3, 2022, close, before declining 25% to its low for the year in October 2022.[\[11\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-11)[\[12\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-12) In the first 6 months of 2022, the S\&P 500 fell 21%, the worst 6-month start to a year since 1970.[\[13\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-13)[\[14\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-14) On September 13, 2022, the S\&P 500 declined by 4.32% in its largest single-day drop since June 2020.[\[15\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-15)[\[16\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-16) The S\&P 500 had the worst results since 2008, with a decline of 19% for the year.[\[17\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-17) The Nasdaq Composite fell 33%.[\[18\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-losses-18) Stocks in Europe outperformed on the year due to lower valuations. The [STOXX Europe 600](https://en.wikipedia.org/wiki/STOXX_Europe_600 "STOXX Europe 600") lost 12% on the year, the [DAX](https://en.wikipedia.org/wiki/DAX "DAX") lost 12.5%, and the [CAC 40](https://en.wikipedia.org/wiki/CAC_40 "CAC 40") lost 9.5%.[\[18\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-losses-18) The [Nikkei 225](https://en.wikipedia.org/wiki/Nikkei_225 "Nikkei 225") started the year at around 29,000 but fell to 25,000 by March. It ended the year down 9%.[\[19\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-19) However, by 2024, it hit all time highs.[\[20\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-20) By November 2022 the [Hang Seng Index](https://en.wikipedia.org/wiki/Hang_Seng_Index "Hang Seng Index") was down 36% year-to-date, one of the worst performances among major stock market indices. The decline was exacerbated when [Xi Jinping](https://en.wikipedia.org/wiki/Xi_Jinping "Xi Jinping") won a third tenure of the [general secretaryship](https://en.wikipedia.org/wiki/General_secretaryship_of_Xi_Jinping "General secretaryship of Xi Jinping"), and investors feared that he would prioritize state-owned firms over private companies.[\[21\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-21) The decline was also due to concerns over the economic effects of [Xi Jinping](https://en.wikipedia.org/wiki/Xi_Jinping "Xi Jinping")'s [Zero-COVID](https://en.wikipedia.org/wiki/Zero-COVID "Zero-COVID") strategy and its regulatory crackdown and fines on companies such as [Ant Group](https://en.wikipedia.org/wiki/Ant_Group "Ant Group").[\[22\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-22) ## Cryptocurrency performance \[[edit](https://en.wikipedia.org/w/index.php?title=2022_stock_market_decline&action=edit&section=6 "Edit section: Cryptocurrency performance")\] As part of the global decline in most risky assets, the price of [Bitcoin](https://en.wikipedia.org/wiki/Bitcoin "Bitcoin") fell 59% in 2022, and it declined 72% from its then all-time high reached on November 8, 2021. The decline was at its worst in June 2022; an article in [The Wall Street Journal](https://en.wikipedia.org/wiki/The_Wall_Street_Journal "The Wall Street Journal") published that month was titled "The Crypto Party Is Over".[\[23\]](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_note-23) However, by 2024, many cryptocurrencies reached all-time highs. 1. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-1) Vega, Nicolas (June 14, 2022). ["Stocks have officially entered bear market territory—here's what that means and what you should do"](https://www.cnbc.com/2022/06/14/what-experts-say-to-do-during-a-bear-market.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 2. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-2) Toews, Phillip (March 14, 2022). ["Opinion: Ukraine War Likely Has Triggered Lasting Bear Market"](https://www.barrons.com/advisor/articles/opinion-ukraine-war-bear-stock-market-51647285190). [Barron's](https://en.wikipedia.org/wiki/Barron%27s "Barron's"). 3. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-3) Rodini, Laura (April 12, 2024). ["A timeline of the Fed's '22–'23 rate hikes & what caused them"](https://www.thestreet.com/fed/fed-rate-hikes-2022-2023-timeline-discussion). [TheStreet.com](https://en.wikipedia.org/wiki/TheStreet.com "TheStreet.com"). 4. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-4) Cordes, Lucy; Ferris, Erin (June 14, 2024). ["Who Buys Treasuries When the Fed Reduces its Holdings"](https://www.federalreserve.gov/econres/notes/feds-notes/who-buys-treasuries-when-the-fed-reduces-its-holdings-20240614.html). [Federal Reserve](https://en.wikipedia.org/wiki/Federal_Reserve "Federal Reserve"). 5. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-5) Reid, Jenni (October 26, 2023). ["European Central Bank holds interest rates steady after 10 consecutive hikes"](https://www.cnbc.com/2023/10/26/european-central-bank-holds-interest-rates-steady-after-10-consecutive-hikes.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 6. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-6) ["Real Gross Domestic Product"](https://fred.stlouisfed.org/series/A191RL1Q225SBEA). 7. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-7) ["GDP up by 0.7% in the euro area and by 0.6% in the EU"](https://ec.europa.eu/eurostat/documents/2995521/14644653/2-29072022-BP-EN.pdf/76432e7c-62cf-653b-6998-195b19b897ee). [Eurostat](https://en.wikipedia.org/wiki/Eurostat "Eurostat"). July 29, 2022. 8. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-8) Ermey, Ryan (December 20, 2022). ["Investing experts predict a 'soft-ish landing' for the economy in 2023—here's what that means for your money"](https://www.cnbc.com/2022/12/20/2023-market-outlook-what-soft-landing-could-mean-for-your-money.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 9. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-9) John, Alun (February 22, 2024). ["European shares hit all-time highs, global momentum builds"](https://www.reuters.com/markets/europe/europes-stoxx-600-share-benchmark-hits-all-time-high-2024-02-22/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 10. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-10) Virgaonkar, Waman; Varsani, Hitendra D. (January 3, 2023). ["Markets in Focus: Investors Look to Capture Big Market Shifts"](https://www.msci.com/www/blog-posts/markets-in-focus-investors-look/03573322038). [MSCI](https://en.wikipedia.org/wiki/MSCI "MSCI"). 11. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-11) Randewich, Noel; Cherian, Johann M. (January 20, 2024). ["S\&P 500 notches first record high close in 2 years; chipmakers soar"](https://www.reuters.com/markets/us/futures-climb-chips-megacaps-gain-corporate-earnings-tap-2024-01-19/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 12. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-12) ["The S\&P 500 is in a bull market. Here's what that means and how long the bull might run"](https://apnews.com/article/bull-stock-market-wall-street-cde5d042da6aa887e7d5ba64b62815ff). [Associated Press](https://en.wikipedia.org/wiki/Associated_Press "Associated Press"). June 8, 2023. 13. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-13) Melgar, Luis; Lynch, David J.; Shapiro, Leslie (December 27, 2022). ["See just how bad a year it was for your retirement account — and why"](https://www.washingtonpost.com/business/interactive/2022/stock-market-sp500-down-this-year/). [The Washington Post](https://en.wikipedia.org/wiki/The_Washington_Post "The Washington Post"). 14. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-14) Simonetti, Isabella (June 30, 2022). ["After Worst Start in 50 Years, Some See More Pain Ahead for Stock Market"](https://www.nytimes.com/2022/06/30/business/stock-market-worst-start-50-years.html). [The New York Times](https://en.wikipedia.org/wiki/The_New_York_Times "The New York Times"). 15. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-15) Rennison, Joe (September 13, 2022). ["Markets Plunge as Inflation Data Undercuts Wall Street's Optimism"](https://www.nytimes.com/2022/09/13/business/markets-inflation-stocks.html). [The New York Times](https://en.wikipedia.org/wiki/The_New_York_Times "The New York Times"). 16. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-16) Halpert, Madeline (September 13, 2022). ["S\&P 500 Faces Biggest Drop This Year As Inflation Remains Stubbornly High"](https://www.forbes.com/sites/madelinehalpert/2022/09/13/sp-500-faces-biggest-drop-this-year-as-inflation-remains-stubbornly-high/). [Forbes](https://en.wikipedia.org/wiki/Forbes "Forbes"). 17. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-17) Pound, Jesse; Subin, Samantha (December 30, 2022). ["Stocks fall to end Wall Street's worst year since 2008, S\&P 500 finishes 2022 down nearly 20%"](https://www.cnbc.com/2022/12/29/stock-market-futures-open-to-close-news.html). [CNBC](https://en.wikipedia.org/wiki/CNBC "CNBC"). 18. ^ [*a](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-losses_18-0) [b](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-losses_18-1) ["Wall Street, European stock markets close 2022 with big losses"](https://www.dailysabah.com/business/economy/wall-street-european-stock-markets-close-2022-with-big-losses). [Daily Sabah](https://en.wikipedia.org/wiki/Daily_Sabah "Daily Sabah"). [Istanbul](https://en.wikipedia.org/wiki/Istanbul "Istanbul"). December 30, 2022. 19. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-19)* Yamaguchi, Yuki (December 30, 2022). ["Japan's Nikkei stock index drops 9% in 2022 for 1st yearly fall in 4 years"](https://english.kyodonews.net/news/2022/12/6eba1018af37-update1-japans-nikkei-index-drops-9-in-2022-for-1st-yearly-fall-in-4-years.html). [Kyodo News](https://en.wikipedia.org/wiki/Kyodo_News "Kyodo News"). 20. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-20) ["Japan's Nikkei average hits record high, topping 42,000 on Wall Street gains"](https://www.japantimes.co.jp/business/2024/07/11/markets/nikkei-another-record-high/). [The Japan Times](https://en.wikipedia.org/wiki/The_Japan_Times "The Japan Times"). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). July 11, 2024. 21. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-21) ["Why Did Chinese Stocks Drop Some 13% In October 2022?"](https://www.forbes.com/sites/qai/2022/11/20/why-did-chinese-stocks-drop-some-13-in-october-2022/). [Forbes](https://en.wikipedia.org/wiki/Forbes "Forbes"). November 20, 2022. 22. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-22) Zhu, Julie (November 22, 2022). ["China set to fine Ant Group over \$1 bln, signalling revamp nears end-sources"](https://www.reuters.com/business/exclusive-china-set-fine-ant-group-over-1-bln-signalling-revamp-nears-end-2022-11-22/). [Reuters](https://en.wikipedia.org/wiki/Reuters "Reuters"). 23. [^](https://en.wikipedia.org/wiki/2022_stock_market_decline#cite_ref-23) Driebusch, Corrie; Vigna, Paul (June 18, 2022). ["The Crypto Party Is Over"](https://www.wsj.com/articles/the-crypto-party-is-over-11655524807). [The Wall Street Journal](https://en.wikipedia.org/wiki/The_Wall_Street_Journal "The Wall Street Journal"). [ISSN](https://en.wikipedia.org/wiki/ISSN_$identifier$ "ISSN (identifier)") [0099-9660](https://search.worldcat.org/issn/0099-9660).
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