Nikkei 225 · February 6, 2002
September 11 and deflation
-35.16%
peak-to-trough, the whole slide
187 trading days · 2001-05-07 → 2002-02-06
back to the old high on 2005-11-18
What happened that day?
- From the high on 7 May 2001 to the low on 6 February 2002, the Nikkei fell 35.16% over 187 trading days
- A new prime minister promising reform had taken office that April, and the market had jumped on it
- The September attacks in the US pulled world markets down together, Tokyo included
- Japan's own problem was prices. When prices keep falling, people wait to buy — and waiting pushes prices down again
- It is worst for anyone in debt. Prices fall, so revenue falls, but the debt stays exactly as heavy
- In this stretch the Nikkei fell back to where it had been in 1984
- The high it fell from was not regained until November 2005
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.