Nikkei 225 · May 27, 1970
The 1970 squeeze in Tokyo
-23.86%
peak-to-trough, the whole slide
34 trading days · 1970-04-06 → 1970-05-27
back to the old high on 1971-06-15
What happened that day?
- From the 6 April 1970 peak to the 27 May low the Nikkei 225 fell 23.86% — 34 trading days
- Major economies including the US were tightening credit to contain inflation
- Japan tightened too, to cool an overheating economy, and corporate funding conditions worsened
- It was also the first clearly visible stumble in the high growth that had run through the 1960s
- US stocks were falling hard over the same weeks, and that carried straight over to Tokyo
- It recovered as the squeeze eased. The old high returned on 15 June 1971
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.