Nikkei 225 · February 18, 1991
February, as the war wound down
+3.50%
single-day change vs previous close
Part of a longer stretch
The first bounce
near the end of it · 1990-10-01 → 1991-03-18, +34.25% over the whole period
What happened that day?
- On 18 February 1991 the Nikkei 225 rose 3.5%
- The Gulf War was turning decisively and oil kept falling
- Cheaper oil lowers Japanese companies' costs directly, given how much of it is imported
- This rebound ran to 18 March and finished up 34.25%
- No single trigger can be pinned to this day
- It was not a recovery, though — even this high was less than half the 1989 peak
- A month later a seventeen-month slide began
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.