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This Day In Market History: Atomic Bomb Shuts Down Japan Stock Exchange

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This Day In Market History: Atomic Bomb Shuts Down Japan Stock Exchange
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Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.

What Happened?

On this day 73 years ago, the Tokyo Stock Exchange closed following the U.S. bombing of Nagasaki.

Where The Market Was

The Dow Jones Industrial Average closed at 165.14 and the S&P 500 traded at 14.83. Today, the Dow is trading at 25,509.23 and the S&P 500 is trading at 2,853.58.

What Else Was Going On In The World?

In 1945, German leader Adolf Hitler and his wife Eva Braun committed suicide. The U.S. dropped the world’s first atomic bombs on Japan, bombing Hiroshima (August 6) and Nagasaki (August 10). The average price of a new house in the U.S. was $4,600.

Atomic Bombs Shuts Down Japan Market

Japan’s Tokyo Stock Exchange was opened in May of 1878. In 1943, the TSE was combined with 10 other exchanges throughout Japan to form the Japanese Stock Exchange.

The day after the U.S. dropped its second atomic bomb on Nagasaki, Japan closed down trading on the Japanese Exchange. Although Japan would surrender less than a month later, officially ending World War II, the Japanese Stock Exchange would remain closed for nearly four years, finally reopening on April 1, 1949. Following reorganization, the TSE emerged as the largest of five post-war exchanges in Japan.

As of 2017, there are more than 3,500 companies listed on the TSE representing a total market capitalization of more than $5.6 trillion.

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