Wartime Financial Crisis of 2016
The Wartime Financial Crisis of 2016, also known as the Great Financial Crisis of the Century, was a stock market crash that occurred during the Imperial Crisis on December 5, 2016. The economic disaster first affected the economies of Southeast Asianna, particularly that of Quenmin, Tamau, Ai Chi, and Bethausia, before moving towards the economies of the Novayan RDPR, Joyonghea, Aurucolia, Zanarkand, New Akiba, Gallia-Bruhl, Rubrum, Nihhon-koku, Erebonian Empire and the United Kingdom.
The primary causes for this economic debacle was of the Tydings Treaty and the incentive of Jackson Boya, the General Secretary of the Federal Union Association, to reduce the exchange rate of the Gil and the Tiền. The first component helped to decrease the economic investments of the Commonwealth by 5% and the second exacerbated both the rates for interest and inflation within the economies of the entirety of Asianna and the Commonwealth. For these two reasons, this helped to create an enormous economic bubble that affected the prices of the affected countries' preferably traded commodities that eventually burst and instigated a financial meltdown spread throughout the world from Southeast Asianna first, with the exception of the countries of the Axis powers and several companies that made profit off of it.
Events
- 11:35 AM, December 5: The AAS Stock Market Bubble bursts.
- 12:31 PM: The Lieu Khang Imperial Industrial Composite, the East Coast Economic Average, and the Imperial Stock Exchange of Quenmin hits an all-time low of 4239 points.
- 12:33 PM: The Kaechanaburi Assets Composite and the Royal Stock Exchange of Tamau suffers a loss of 3592 points.
- 1:12 PM: The Stock Exchange of Joyonghea hits a low of 3010 points.
- 2:19 PM: The Novayan Revolutionary Stock Market Exchange loses 4935 points.
- 3:35 PM: The Zanarkian Stock Market gets affected and gets reduced by 3214 points.
- 3:40 PM: The Market Stocks of New Akiba is reduced by 2410.
- 5:47 PM: The North Amerigonna Stock Market, the most affected is reduced by 5259, affecting Rubrum, Concordia, Dalmasca and Nabradia, Lestallum, Alteria, Tenebrae and Solheim.
- 9:45 PM: The Nihhonese Stock Market is reduced to 2110.
- 9:47 PM: The National Stock Exchange of the United Kingdom is severely reduced to 2146. The Exchange rate of the Gil and Tien goes by by 15%.
- 10:00 PM: The Stock and Market Assets of Gallia is reduced to 2568.
- 10:30 PM: The Imperial Stock Market of the Erebonian Empire is reduced to 3475. The exchange rate of the Gil to the Kroner is reduced by 7%.
- 11:01 PM: The Estharian Stock Market is reduced to 3475, coinciding with the bursting of the Estharian Stock Bubble.
Reactions
"This economic disaster is just an exposure of how much of a fallacy the [Federal Union] Association really is" - Đỗ Thắng Kiếu, Chairwoman and CFO of the Hai Kieu Corporation.