Nikkei 225 in 2008

The Nikkei 225 fell 42.1% in 2008, from 15,308 at the end of 2007 to 8,859.56. Its highest close was 14,691 on Jan 4, and its lowest 7,162.90 on Oct 27. The biggest one-day fall was −11.4% on Oct 16 and the biggest rise +14.2% on Oct 14.

Change in 2008

−42.1%

15,308 → 8,859.56

High

14,691

Jan 4

Low

7,162.90

Oct 27

Up days

117 of 245

longest run 5 up, 12 down

Below record

-77.2%

at the end of 2008

Nikkei 225, daily closes 2008

Numbers mark the events below

Key Events in 2008

What happened, and how the Nikkei 225 moved — on the day (or the next trading day) and about a month later.

1
Monday, January 7 From the data

Enters a bear market: 20% below its peak of 18,262 (July 9, 2007).
2
Sunday, March 16

JPMorgan Chase agrees to acquire Bear Stearns for about $2 a share with Fed financing. Source

Nikkei 225: −3.7% next trading day (Mar 17) · +6.1% a month later
3
Monday, March 17 From the data

Bear market low: 11,788, 35.5% below the peak.
4
Sunday, September 7

Fannie Mae and Freddie Mac are placed into federal conservatorship. Source

Nikkei 225: +3.4% next trading day (Sep 8) · −24.6% a month later
5
Monday, September 15

Lehman Brothers files for Chapter 11 bankruptcy protection. Source

Nikkei 225: −5.0% next trading day (Sep 16) · −30.8% a month later
6
Thursday, September 18 From the data

Enters a bear market: 20% below its peak of 14,489 (June 6, 2008).
7
Friday, October 3

Emergency Economic Stabilization Act is signed, creating the $700 billion TARP. Source

Nikkei 225: −1.9% that day · −18.3% a month later
8
Tuesday, October 14 From the data

Biggest one-day rise of the year: +14.2%.
9
Thursday, October 16 From the data

Biggest one-day fall of the year: −11.4%.
10
Monday, October 27 From the data

Bear market low: 7,162.90, 50.6% below the peak.
11
Tuesday, December 16

Fed cuts its federal funds target to a range of 0 to 0.25%. Source

Nikkei 225: −1.1% that day · −6.9% a month later

Biggest days of 2008

Best days		Worst days
Oct 14	+14.2%	Oct 16	−11.4%
Oct 30	+10.0%	Oct 10	−9.6%
Oct 29	+7.7%	Oct 24	−9.6%
Oct 28	+6.4%	Oct 8	−9.4%
Nov 4	+6.3%	Nov 20	−6.9%

Volatility: 46.3% (annualised standard deviation of daily changes).

Month by month

Month	Close	Change	High	Low
Jan	13,592	−11.2%	14,691	12,573
Feb	13,603	+0.1%	14,031	13,017
Mar	12,526	−7.9%	13,215	11,788
Apr	13,850	+10.6%	13,894	12,656
May	14,339	+3.5%	14,339	13,655
Jun	13,481	−6.0%	14,489	13,481
Jul	13,377	−0.8%	13,603	12,755
Aug	13,073	−2.3%	13,431	12,666
Sep	11,260	−13.9%	12,834	11,260
Oct	8,576.98	−23.8%	11,368	7,162.90
Nov	8,512.27	−0.8%	9,521.24	7,703.04
Dec	8,859.56	+4.1%	8,859.56	7,863.69

Other Markets in 2008

Change over the calendar year.

Market	Change	Year-end
Nikkei 225	−42.1%	8,859.56
Dow Jones Industrial Average in 2008	−33.8%	8,776.39
S&P 500 in 2008	−38.5%	903.25
Nasdaq Composite in 2008	−40.5%	1,577.03
Russell 2000 in 2008	−34.8%	499.45
Gold in 2008	+4.3%	$869.75
Silver in 2008	−26.9%	$10.79
WTI crude oil in 2008	−53.5%	$44.60
Brent crude oil in 2008	−61.8%	$35.82
US 10-year Treasury yield in 2008	−1.79 pp	2.25%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009

Nikkei 225 in 2008: FAQ

How much did the Nikkei 225 fall in 2008?

What were the highest and lowest closes of the Nikkei 225 in 2008?

Highest: 14,691 on January 4, 2008. Lowest: 7,162.90 on October 27, 2008. It closed higher on 117 of 245 trading days.

What happened to the Nikkei 225 on September 15, 2008?

Lehman Brothers files for Chapter 11 bankruptcy protection. The Nikkei 225 fell 5.0% on the next trading day (September 16, 2008), and was −30.8% a month later.

Data: Daily closes since Jan 1984 (Tokyo). Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.