Nikkei 225 · September 8, 2008
The Monday after Washington took over the mortgage giants
+3.38%
single-day change vs previous close
Part of a longer stretch
The Lehman collapse
midway through · 2008-06-06 → 2008-10-27, -50.56% over the whole period
What happened that day?
- September 8, 2008 — the Nikkei 225 rose 3.38% to 12,624.46
- Over the weekend Washington had placed the two government-sponsored mortgage firms into conservatorship
- Banks and pension funds all over the world held the paper those two guaranteed. The move was read as that paper not going to zero
- The Bank of Japan's governor said he expected it to stabilise the US mortgage-backed market
- Asia got the news first on Monday morning. Tokyo priced it in a single session
- The relief did not last a week. A US investment bank failed the next one
- From June 6 to October 27 the episode ran -50.56%. This rise sat inside it
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.