"The Fellowship of the Ring", 1st Lord of the Rings film is released. Makes US$47 million US opening weekend, $871 million total worldwide.
- A record high barometric pressure of 1085.6 hPa (32.06 inHg) is recorded at Tosontsengel, Khövsgöl Province, Mongolia.
- Argentine economic crisis: December 2001 riots - Riots erupt in Buenos Aires after Domingo Cavallo's corralito measures restrict the withdrawal of cash from bank deposits.
- Marcel Mule, French saxophonist. (b. 1901)