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Explore the people, places, events, achievements, struggles and stories that shaped our journey.
Movements, leaders, victories and the continuing fight for equality.
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Meet the people whose lives, choices and achievements shaped the journey.
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Wilmington, North Carolina once had a thriving Black middle class and an elected interracial government. In 1898 white supremacists used violence to overthrow that government, kill Black residents and drive many others from the city.
MORE →Reflects the personal views, recollections, and perspective of the author, Mike Davis.
This is a personal recollection on the Move fire on May 13, 1985
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]
In 2022 the MSCI World 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]
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.
Source: Wikipedia. Article content is retrieved live through the MediaWiki API.
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. 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. It also reintroduced a policy of quantitative tightening in June 2022. The European Central Bank raised rates 10 consecutive times during the same period. 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. GDP growth rates in the European Union also slowed significantly in the first half of 2022. 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. By 2023 and 2024, many stock market indices reached all-time highs.
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a bull market) and excessive economic optimism, a market where price–earnings ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large corporate hacks, changes in federal laws and regulations, and natural disasters within economically productive areas may also influence a significant decline in the stock market value of a wide range of stocks. Stock prices for corporations competing against the affected corporations may rise despite the crash. There is no numerically specific definition of a stock market crash but the term commonly applies to declines of over 10% in a stock market index over a period of several days. Crashes are often distinguished from bear markets (periods of declining stock market prices that are measured in months or years) as crashes include panic selling and abrupt, dramatic price declines. Crashes are often associated with bear markets; however, they do not necessarily occur simultaneously. Black Monday (1987), for example, did not lead to a bear market. Likewise, the bursting of the Japanese asset price bubble occurred over several years without any notable crashes. Stock market crashes are not common. Crashes are generally unexpected. As Niall Ferguson stated, "Before the crash, our world seems almost stationary, deceptively so, balanced, at a set point. So that when the crash finally hits – as inevitably it will – everyone seems surprised. And our brains keep telling us it’s not time for a crash."
Since the beginning of the Bombay stock exchange, stock markets in India, particularly the Bombay Stock Exchange and National Stock Exchange of India have seen a number of booms as well as crashes. This page lists these crashes and sharp falls in the two primary Indian stock markets, namely the BSE and NSE. Financial Times terms a double-digit percentage fall in the stock markets over five minutes as a crash, while Jayadev et al. describe a stock market crash in India as a "fall in the NIFTY of more than 10% within a span of 20 days" or "difference of more than 10% between the high on a day and the low on the next trading day" or "decline in the NIFTY of more than 9% within a span of 5 days". As per the latter definition, the Nifty experienced 15 crashes during the period 2000 to 2008 with a number of them having occurred in the months of January, May and June 2008. According to SEBI, approximately 89% of individual stock traders in the equity Futures & Options (F&O) segment incurred losses during the financial year 2021–22.
Starting on April 2, 2025, global stock markets crashed amid increased volatility following the introduction of new tariff policies by U.S. president Donald Trump during his second term. On April 2, which he called "Liberation Day", Trump announced sweeping tariffs impacting nearly all sectors of the US economy. The announcement triggered widespread panic selling across global stock markets. It became the largest global market decline since the 2020 stock market crash, which occurred during the recession caused by the COVID-19 pandemic. Trump entered his second term with a particularly strong domestic stock market. This momentum continued for several weeks after his inauguration. However, the administration soon began implementing increasingly aggressive trade policies aimed at advancing protectionism and applying economic pressure. These included escalating the ongoing trade war with China, starting a trade war with Canada and Mexico, imposing heavy tariffs, and heightening tensions with key allies. As these policies took effect, financial markets grew increasingly turbulent and volatile, with a growing sense of uncertainty. As stock prices declined, investors initially moved into bonds, pushing down yields. The Trump administration pointed to the yield drop as evidence that its tariff measures were helping reduce borrowing costs. However, this trend quickly reversed as bond markets began to experience widespread selling as well, described as an example of bond vigilantism. The spike in bond yields, attributed to waning investor confidence in US fiscal policy, led to emergency responses by several governments. The Trump administration announced it would pause tariff increases on April 9, 2025, leading to a stock market rally with major US indices posting their largest gains in years. Following further walk backs and initial trade deals, the S&P 500 US stock market index turned positive for the year on May 13, 2025. By June 27, 2025, the S&P 500 and the NASDAQ closed at all time highs. The Trump administration eventually resumed their new tariffs on August 7, but with modifications to the rates and affected products. By December 2025, half of all imports were exempt.
Before the 1921 destruction of Tulsa’s Greenwood District, Black residents had created a remarkable center of business and community life. The district included stores, professional offices, entertainment venues and homes owned by Black citizens. Understanding Greenwood means learning what was built—not only what was burned.
MORE →The Greenwood District.
