Nikkei 225 · June 11, 1970

A sharp fall even after the bottom

-3.80%

single-day change vs previous close

Part of a longer stretch

Recovery after the squeeze eased

early in it · 1970-05-27 → 1971-06-15, +31.74% over the whole period

What happened that day?

11 June 1970 — the Nikkei 225 fell 3.80%. No single cause for that one day could be pinned down
That spring's decline ended on 27 May. This day sits in the retracement past the bottom
Passing a bottom does not mean climbing smoothly. Big down-days like this one keep appearing
The spring decline was a credit squeeze: a large American railroad ran out of money and an international investment company collapsed
Japan was in a tightening cycle. As the tightening began to ease, prices came back
From the early-April high to the late-May low the index fell 23.86%. The old high returned in June 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 put together from the public record; where a specific source was consulted it is listed above.