KOSPI · September 22, 2000

The day oil and chips broke together

-7.17%

single-day change vs previous close

Part of a longer stretch

Korea's dot-com hangover

midway through · 2000-01-04 → 2001-09-17, -55.74% over the whole period

What happened that day?

The KOSPI fell 7.17% on the day, the largest single-day drop of this decline
Oil reached thirty-seven dollars a barrel, its highest in a decade — a direct blow to a country importing all of its crude
At the same time memory prices were falling fast, roughly halving as the previous year's boom ended
Semiconductors carry enough weight in the KOSPI that the two together push the index down hard
The US Nasdaq was breaking on top of that, and at home the question of conglomerate restructuring had resurfaced
The decline ran to September of the following year, taking more than half the index

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.