Nikkei 225 · December 2, 2008
Guidance cuts pile up
-6.35%
single-day change vs previous close
Part of a longer stretch
Japan's lost decades
near the end of it · 1989-12-29 → 2009-03-10, -81.87% over the whole period
What happened that day?
- On 2 December 2008 the Nikkei 225 fell 6.35% in a single day
- Japanese exports were collapsing as global demand for cars and electronics froze
- The yen kept strengthening on top of that, so overseas earnings shrank further when converted back
- Large manufacturers cut their full-year guidance sharply, one after another
- It came right after the US recession was formally confirmed, which made the mood worse
- The Nikkei bottomed in March 2009, and the old high took 15 years to return
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.