KOSPI · May 25, 2010
A month of Greece and the flash crash
-10.92%
peak-to-trough, the whole slide
19 trading days · 2010-04-26 → 2010-05-25
still below that peak today
What happened that day?
- From the high on 26 April 2010 to the low on 25 May, the KOSPI fell 10.92% over 19 trading days
- It became clear Greece might not repay its debt. A country defaulting is a different kind of problem from a banking crisis
- On 6 May US shares plunged and recovered within minutes
- In Korea, tension between North and South was added on top. It is a rare phase where domestic and external causes worked together
- Money fleeing risk leaves emerging markets first. So Korea was shaken more than its direct exposure to Europe would suggest
- 25 May was the bottom, and the advance that began there ran into early the following 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 written from the sources listed above.