S&P 500 · October 27, 1997
Asian Crisis Shock — New York
-6.87%
single-day change vs previous close
What happened that day?
- 27 October 1997 — S&P 500 fell 6.87%
- The NYSE triggered its circuit breakers — halts introduced after 1987 — for the first time. Trading closed early
- It started in Thailand. The baht's collapse that summer spread to Indonesia and Korea
- A plunge in Hong Kong finally carried it to the United States
- US decline was shallow though: 10.8% from peak, recovered within months (sharp contrast to the countries at the centre)
- Also the first real use of a mechanism built from the lessons of 1987, a decade after it was created
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.