Nikkei 225 · October 2, 1990
A bounce in the bubble's first year
+13.24%
single-day change vs previous close
Part of a longer stretch
The first bounce
early in it · 1990-10-01 → 1991-03-18, +34.25% over the whole period
What happened that day?
- On 2 October 1990 the Nikkei 225 rose 13.24% in a single day
- 1990 was the first year of the Japanese bubble unwinding, and the index had been sliding since January
- Iraq's invasion of Kuwait in August sent oil prices up and deepened the fall — a direct hit for a country that imports all its oil
- In early October, views that the Middle East would not go to the worst case spread and crude settled, producing a violent bounce
- Government and financial institutions supporting the market played a part too
- But it was only a bounce. The bubble's collapse had just begun, and the Nikkei fell for another 19 years
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.