Nikkei 225 · December 15, 2008
The Monday before another cut
+5.21%
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?
- The Nikkei rose 5.21% to close at 8,664.66. No single trigger for the day could be pinned down
- An American monetary policy meeting was scheduled that week, and a large further cut was widely expected
- The United States did take rates effectively to the floor that week — but that came after this session
- Prices rising on expectation alone is ordinary. Sometimes they give it back once the announcement lands
- The episode fell 47.47% from the August high to the March low, and this is a bounce inside it
- After Lehman, swings of several percent a day were routine in this market. The size itself was the sign of instability
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 put together from the public record; where a specific source was consulted it is listed above.