KOSPI · July 25, 2012
Four months as Europe's crisis returned
-13.66%
peak-to-trough, the whole slide
77 trading days · 2012-04-03 → 2012-07-25
still below that peak today
What happened that day?
- From the high on 3 April 2012 to the low on 25 July, the KOSPI fell 13.66% over 77 trading days
- The effect of the winter's long-term loans to European banks had worn off by this point
- Bad property loans in Spain grew until the government took on its banks, and the country's own credit began to shake
- Greece failed to form a government after its May election and voted again in June. Leaving the euro was discussed seriously for the first time
- Korea exports directly to Europe in size, but the bigger issue is that money fleeing risk leaves emerging markets first
- 25 July was the bottom, and days later a remark from the ECB president changed the board
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.