Gray Tuesday
From Wikipedia, the free encyclopedia
Gray Tuesday occurred on February 27, 2007 when the Chinese stock market declined 8.8%. This was the largest drop since Deng Xiaoping's death on February 19, 1997, which led to an 8.9% drop in stocks. The decline in the Chinese stock market led to drops in the US (3.3%), Europe (3% on average), Hong Kong (1.8%), Malaysia (2.8%), Singapore (2.3%), and Australia (3.5%). It also led to large drops in Japan (3.75%), South Korea (3.51%) the next day with most Asia experiencing further drops as well. The Dow Jones Industrial Index, dropped 416.02 points to 12,216.24 . The Nasdaq lost 96.66 points to 2,407.86, and the S&P 500 lost 50.33 points to 1,399.04. On the big drop, the Dow Jones dropped from 298 points to 500 points in 30 seconds.
