Black Monday refers to the stock market crash of 19 October 1987, when the Dow Jones Industrial Average fell by more than twenty percent in a single day, the largest one-day percentage fall in its history. The panic began in Asian markets and spread to Europe and the United States, with markets in Hong Kong, London and elsewhere also dropping sharply. Possible causes include overvalued shares, computerized program trading and portfolio insurance strategies, which forced automatic selling as prices fell. The Federal Reserve, under Alan Greenspan, promised to provide liquidity, and markets recovered fairly quickly without a recession. Stock exchanges later introduced circuit breakers to pause trading in sharp declines.
Before and after
- 16 September 1987Montreal Protocol
- from 18 September 1987 to 28 November 1990Premiere of DuckTales
- 28 September 1987Birth of Hilary Duff
- 18 October 1987Birth of Zac Efron
- 19 October 1987Black Monday
- from November 1987 to February 19881987–1988 violence in Kafan
- 8 December 1987Intermediate-Range Nuclear Forces Treaty
- from 8 December 1987 to 13 September 1993First Intifada
- 9 December 1987Creation of Windows 2.0
More in Society, economy & sport
- 1945Founding of International Court of Justice
- 24 October 1945Founding of United Nations Security Council
- 1952Founding of European Parliament
- 15 June 1954Founding of Union of European Football Associations
- 8 December 1991Founding of Commonwealth of Independent States
- 4 February 2004Founding of Facebook
The era
This moment belongs to the Contemporary world (1945 CE to today), the world since 1945. You can also browse everything in the 20th century.