Nikkei 225 · January 27, 2022
After America decided to raise
-3.11%
single-day change vs previous close
Part of a longer stretch
When the easing ran out
near the end of it · 2021-09-14 → 2022-03-09, -19.41% over the whole period
What happened that day?
- The Nikkei 225 fell 3.11% on the day
- The Fed had said the day before that it would soon start raising rates, because inflation was running higher and longer than expected
- If America raises while Japan does not, the rate gap widens. That weakens the yen, which favours exporters
- Yet the Nikkei fell. The calculation that world growth would slow weighed more
- Japanese shares hang on world demand, so a cheaper yen is no help if there is less place to sell
- The decline ran to early March, and the war in Ukraine landed on top of 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 written from the sources listed above.