Nikkei 225 · November 11, 1987
Black Monday in Tokyo
-21.05%
peak-to-trough, the whole slide
19 trading days · 1987-10-14 → 1987-11-11
back to the old high on 1988-04-07
What happened that day?
- From the 14 October 1987 peak to the 11 November low the Nikkei 225 fell 21.05% — 19 trading days
- Black Monday hit New York on 19 October and landed on Tokyo the next morning
- Japan was mid-bubble at the time and had the strength to absorb it. Unlike the US, the underlying economy was booming
- The government and the brokerages moved actively to steady the market, and large institutions stepped in to buy
- The recovery was quick — the old high was back on 7 April 1988, while Wall Street needed until the summer of 1989
- That fast recovery arguably let the bubble inflate two more years. The real collapse came from 1990
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.