KOSPI · September 5, 2011
Monday after the jobs report stopped
-4.39%
single-day change vs previous close
Part of a longer stretch
The euro crisis and the US downgrade
near the end of it · 2011-05-02 → 2011-09-26, -25.85% over the whole period
What happened that day?
- September 5, 2011 — the KOSPI fell 4.39% to 1,785.83. No single cause for the day could be pinned down
- The US jobs report the previous Friday had shown essentially no new jobs at all, read as the economy rolling over again
- In Europe, southern sovereign yields were rising again — and the banks holding that debt were the problem
- Korea, heavy in exports and in foreign ownership, takes that combination harder than most
- It was the second straight decline, the lowest close since August 26, and the fifth largest one-day fall of the year
- From July 7 to September 26 the episode ran -24.21%
- The low came at the end of September; recovery took half a year
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.