Nikkei 225 · June 13, 2013
Abenomics' first crash
-20.36%
peak-to-trough, the whole slide
16 trading days · 2013-05-22 → 2013-06-13
back to the old high on 2013-11-28
What happened that day?
- From the high on 22 May 2013 to the low on 13 June, the Nikkei fell 20.36% in just 16 trading days
- That day the US Fed chair suggested the pace of bond buying might be reduced
- In a market that rose on the premise that money would keep flowing, shaking the premise is enough
- The Nikkei had risen more than eighty percent in six months. There was that much to give back
- A high share of stock bought with borrowed money deepened it — falling prices force selling
- The stretch lasted three weeks and the high was recovered that November
- It is a clean demonstration that a market which rises fast falls fast
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.