Nikkei 225 · July 24, 1987
The summer the bubble grew
+3.93%
single-day change vs previous close
What happened that day?
- On 24 July 1987 the Nikkei 225 rose 3.93%
- Rates in Japan were very low. Easing had continued out of fear that the strong yen would cool the economy
- Cheap money went into shares and land. Companies began earning more from managing money than from their actual business
- This is when people calculated that the land under Tokyo was worth more than all the land in America
- No single trigger can be pinned to this day
- There had been a stretch where the index sat 18.87% below its peak
- Black Monday came three months later, but Tokyo recovered fast and the bubble grew for two more 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.