TOKYO -- On Aug. 5, Katsuaki Nagai, a trading section manager at Marusan Securities, received a flood of orders from wholesale customers who wanted to buy the largest-ever daily dip in Japanese stocks.

Japan stocks' historic volatility at the beginning of August was caused by demand-supply dynamics rather than fundamentals, a trading manager says. (Source photos by Yo Inoue and Satoko Kawasaki)
After a month, market sources look back at historic rout and share their takeaways