Nikkei 225 · January 8, 1992
Given back in two days
-3.61%
single-day change vs previous close
Part of a longer stretch
When the bad loans surfaced
midway through · 1991-03-18 → 1992-08-18, -47.29% over the whole period
What happened that day?
- On 8 January 1992 the Nikkei 225 fell 3.61%
- It handed back the gain from the first session of the year, two days earlier
- A price lifted by expectation alone comes straight back down when the expectation cools
- The Japanese economy really was deteriorating — earnings and land prices were both turning
- No single trigger can be pinned to this day
- In this stretch the index was 34.19% below its 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.