32 Years Ago Today; Black Monday - Dow loses 22% of value

[Dennis Donovan]

https://tinyurl.com/owpfzwv (Wikipedia Link)


FTSE 100 Index (June 19, 1987, to January 19, 1988).


DJIA (June 19, 1987, to January 19, 1988).

Black Monday on October 19, 1987 was the date when a sudden, severe and largely unexpected systemic shock impaired the functioning of the global financial market system, roiling its stability through a stock market crash, along with crashes in the futures and options markets. The crisis affected markets around the world; however, no international news event or change in market fundamentals has been shown to have had a strong effect on investor behavior. Instead, contemporaneous causality and feedback behavior between markets increased dramatically during this period. In an environment of increased volatility and uncertainty, investors were reacting to changes in stock prices and to communication with other investors in a self-reinforcing contagion of fear. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%) In Australia and New Zealand, the 1987 crash is also referred to as "Black Tuesday" because of the time zone difference.

The terms Black Monday and Black Tuesday are also respectively applied to October 28 and October 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929.

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[Zorro]

1. I remember that date quite well

I was taking a couple of weeks off in London, and exchanged all my AmEx traveller's checks into pounds because I was extremely concerned about the market drop's impact on the exchange rate.

[BumRushDaShow]

2. Remember that

and the panic of some of my coworkers who were into the stock market!

[njhoneybadger]

3. I hope it happens again on the 21st

It's the only thing that will turn tRump voters against him.