Nikkei 225 · March 19, 2020
The COVID crash
-31.27%
peak-to-trough, the whole slide
41 trading days · 2020-01-20 → 2020-03-19
back to the old high on 2020-11-05
What happened that day?
- From the high on 20 January 2020 to the low on 19 March, the Nikkei fell 31.27% over 41 trading days
- An epidemic that started in China spread worldwide, and governments halted movement and business
- The economy did not weaken; it stopped. There was no established way to price that
- With the real economy halted, anyone who needed cash sold whatever could be sold. Even gold fell
- In mid-March, US trading was being halted every few days
- The recovery from the low was extremely fast, because money was supplied on an unprecedented scale
- This high was recovered in November that year
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.