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Stock Prices around October 20, 1973 (The Saturday Night Massacre)

Summary:
Reader Julian Silk asks what happened to indicators around the Saturday Night Massacre, when President Nixon fired the Independent Special Prosecutor Archibald Cox. The Baker, Bloom and Davis daily version of the Economic Policy Index only extends back to 1985. Here is the Nasdaq around that date. Since October 20th was a Saturday, the relevant dates are 10/19 and 10/22. Figure 1: Nasdaq index, June 1973-January 1974. The Nasdaq rose slightly today. The true issue is what happens as events unfold.

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Reader Julian Silk asks what happened to indicators around the Saturday Night Massacre, when President Nixon fired the Independent Special Prosecutor Archibald Cox. The Baker, Bloom and Davis daily version of the Economic Policy Index only extends back to 1985. Here is the Nasdaq around that date. Since October 20th was a Saturday, the relevant dates are 10/19 and 10/22.

Stock Prices around October 20, 1973 (The Saturday Night Massacre)

Figure 1: Nasdaq index, June 1973-January 1974.

The Nasdaq rose slightly today. The true issue is what happens as events unfold.

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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