@vortexseren
the stock market's reaction was far less than expected. Sharp interest rate cuts failed to reverse the decline in the capital market, and the three major stock indices still closed lower between 2001 and 2003: the Dow Jones Industrial Average fell 1.8%, the S&P 500 fell 13.4%, and the tech-heavy Nasdaq plummeted 12.6%. The experience of this period demonstrates that even significant monetary easing is unlikely to immediately counteract the profound impact of a structural bubble burst.
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