KOSPI · October 11, 2023
"The market tightened for us"
+1.98%
single-day change vs previous close
Part of a longer stretch
Three months of rates staying higher
near the end of it · 2023-08-01 → 2023-10-31, -14.59% over the whole period
What happened that day?
- The KOSPI rose 1.98% on the day
- Over the preceding days Fed officials had said in turn that long-term yields had already risen so far that less additional tightening was needed
- The very yield surge that had pressed on markets a week earlier was now being read the other way — as the reason no more hikes were coming
- The US 10-year yield eased back and the stocks it had been holding down came up with it
- War had broken out in the Middle East that same week, but at this point the market weighted the view that oil would not spike far
- The correction itself ran on a little longer, into the end of October
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.