KOSPI · February 21, 2000
The venture heat cools
-5.82%
single-day change vs previous close
Part of a longer stretch
Korea's dot-com hangover
early in it · 2000-01-04 → 2001-09-17, -55.74% over the whole period
What happened that day?
- On 21 February 2000 the KOSPI fell 5.82% in a single day
- The 1999 venture mania had peaked and KOSDAQ was cooling fast
- US rate rises were continuing and appetite for risk assets was shrinking worldwide
- Domestic rates rose too, and money that had been invested on borrowed funds started being unwound
- The investment trust problems had not been fully resolved, so money kept flowing out
- The decline that began around here ran until September 2001
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.