KOSPI · September 16, 2008
Lehman Files — KOSPI
-6.10%
single-day change vs previous close
Part of a longer stretch
The KOSPI in the financial crisis
near the end of it · 2007-10-31 → 2008-10-24, -54.54% over the whole period
What happened that day?
- Lehman Brothers filed for bankruptcy protection on 15 September 2008 — early Monday in the US, while Asian markets were already trading
- KOSPI fell 6.1% on the next session, 16 September
- That a 158-year-old investment bank was allowed to fail without rescue was itself the signal: the rules had changed
- Until then, markets assumed some firms were too big to be allowed to fail
- Once that broke, the creditworthiness of every financial institution had to be recalculated
- Not knowing who was next produced the fear of the following months
- Fell 50.21% from peak
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.