In particular, stock prices declined significantly, and on May 15, the Nikkei Stock Average plunged by 1,015 yen from the previous day. This rate of decline was the third largest in history, following only the declines recorded on Black Monday in 1987 and after the failure of Lehman Brothers in 2008.
Moreover, in the foreign exchange market, while the yen depreciated immediately after the earthquake occurred, it then appreciated – reflecting the trend of risk aversion – and reached the range of 76.0–76.5 yen against the U.S. dollar in the early morning of March 17.