The worst stock market crash in global history

Stock market disaster is the abbreviation of stock market disaster or stock market disaster. It refers to the abnormal economic phenomenon that when the internal contradictions in the stock market accumulate to a certain extent, due to the influence of an accidental factor, the stock price suddenly collapses, causing great social and economic turmoil and huge losses. There have been several very serious stock market crashes in history. The following will be introduced to you in turn:

First place: 1973 China Hong Kong stock market plunged.

For a time, drinking milk on land became the focus of the market. Securities companies are crowded with people day by day, and everyone expects to get rich overnight. Shareholders put the P/E ratio and asset value behind them and speculated wildly. The Hang Seng Index hit a new high of 160.05 and 1969 on February 29th, and then the stock market continued to rise. 1976545 During the period of 1973, the Hang Seng Index plummeted by more than 90% in one year, which led to the bankruptcy of tens of thousands of citizens and eventually led to the bursting of the stock market bubble.

Second place: 1929 US stocks plunged.

1Thursday, October 24th1929 10. The disaster happened without warning. There was no obvious sign at the opening, and the stock index was still very strong for a while, but the turnover was very large. Suddenly, the stock price began to fall. In the morning 1 1, the stock market went crazy and people rushed to sell. 1 1: 30, still plummeting. Suicide began to spread, and within an hour, 1 1 famous speculators committed suicide. The turnover rate reached 1289460 shares on that day.

This is due to the overheating of the market, the mismatch between the market operation and the actual operation, leading to the economic bubble, followed by the technical operation defects of programmed trading and portfolio insurance strategy, and the fragile market confidence, which eventually led to the stock market crash. Then there were four bank panics in just four years from 1929- 1933, and then the Great Depression lasted for 10 years. It was not until 1954 that the US stock market recovered to the level of 1929.

Third place: 1989 Japan stock market crash

From 1989 to 65438+February, the Nikkei average index reached 389 15 points. In the 1990s, Japanese stock market prices plummeted randomly, reaching 1990 to 10, which has already fallen below 20,000 points, while grandma fell below 1992.

This is because Japanese banks have been deeply involved in the capital market, accumulated a large number of bad debts, and there was a serious surplus of equipment invested and produced during the bubble period. The decline in real estate and stocks has led to an increase in corporate and personal liabilities. The following 10 year witnessed low or even negative economic growth, which was called the lost 10 year.

Fourth place: 1990 China Taiwan Province stock market crash.

At that time, the economy of Taiwan Province Province had achieved an average growth rate of 9% for 40 consecutive years, and a large number of overseas hot money poured in, and the prices of land and real estate quadrupled in a short time. 1989 in the last quarter, the average price-earnings ratio of Taiwan stocks reached 100 times, while the price-earnings ratio of other markets in the world was below 20 times. In February 1990, the index plummeted from the highest point 12682, and stopped at 2485. It fell 10000 points in eight months.

Fifth place: 1993 China A shares plunged.

1993, China started financial consolidation and realized the strategy of economic soft landing. Money began to tighten, and the funds in the whole securities market ebbed in a large area. The high point of 1558 suppressed the securities market for seven years.

Sixth place: Vietnam stock market crash in 2008.

The VN index of Ho Chi Minh Exchange in Vietnam dropped from 1 170.67 on March 2, 2007 to 367.46 on June 2008, with the largest drop of 68.6%. In this round of adjustment, Vietnam's economy has encountered an unprecedented crisis. High inflation, huge trade deficit and fiscal deficit triggered the total withdrawal of foreign capital, which led to a sharp drop in the stock market.