Black Friday: Spain’s Biggest One-Day Drop in its History

Yesterday, Spain’s equity market - as measured by its IBEX-35 - experienced its largest single day decline in in its history (the index was launched in 1992). The IBEX-35 fell 12.4%. The previous record (for largest daily decline) was 9.14% in 2008. Italy’s equity market fell by similar magnitude, but it is not clear if yesterday’s decline broke the record for a single day decline in Italian equities.

The decline in Spain’s stock market wasn’t quite as steep as Black Monday’s crash (Monday, October 19, 1987), when the Dow fell 22%. But a 12.4% decline is most definitely a rare event…a statistically significant event.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: