East Meets West
Chart of the Week for Feb 1-7, 2002
Following a decade of recession in Japan and prosperity in the US, the primary Japanese and US stock indexes have crossed paths for the first time in 45 years. The Nikkei 225 peaked at 38,915 in December 1989, but has since fallen nearly 75% to 9,791, while the Dow Jones Industrial Average is at 9,907, 15% off its January 2000 high. At its widest point the gap between the Nikkei and Dow was more than 36,162 points. Now the Nikkei is 110 points below the Dow, and is essentially where it was 18 years ago.
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