Nikkei 225 · June 24, 2016
The Brexit Referendum
-7.92%
single-day change vs previous close
Part of a longer stretch
Two and a half years the world rose together
early in it · 2016-02-12 → 2018-10-02, +62.32% over the whole period
What happened that day?
- 24 June 2016 — Nikkei 225 fell 7.92%. Tokyo was mid-session while Britain's EU referendum was being counted
- Markets had expected Remain, and that expectation was in prices
- When the opposite result came, the reversal was large
- Japan's distance from Europe offered little comfort
- Rising uncertainty strengthens the yen, and a stronger yen worsens exporters' earnings (the structure that recurs throughout this list)
- Fell 14.91% from peak. As the actual withdrawal stretched over years, markets stabilised comparatively quickly
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.