📊 S&P 500 up 12% in 2026, but 1907 crash parallels emerge
The S&P 500 has gained 12.65% in 2026, closing Friday at 7,711.75. Wall Street Journal columnist Jason Zweig warns that today's market frenzy mirrors 1901—not 1999—when leverage and speculation, not valuation alone, preceded the 1907 panic.
The warning centers on borrowed money and short-term trading. Same-day options accounted for 66.2% of all S&P 500 options volume in July, an all-time high. Margin debt hit $1.42 trillion in July, up from $1.02 trillion a year earlier. The 1901 NYSE saw 319% annual turnover; shares changed hands roughly every four months.
The 1907 crash wasn't triggered by expensive valuations—it broke on liquidity. When speculators failed to corner United Copper stock, call money rates spiked to 100%. The Dow fell 40.9% from December 1906 peak to November 1907 bottom. Zweig notes crypto tracks equities through risk shocks: BTC trades near $78,520 today.
💰 BTC $78,520 (+0.46% in 24h)
📰 Source: BeInCrypto …
August 30, 2026 82 1
