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Black Monday (also known as Black Tuesday in some parts of the world due to time zone differences) was a global, severe and largely unexpected [1] stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. [ 2 ]
On October 8, the Indonesian stock market halted trading, after a 10% drop in one day. The Times of London reported that the meltdown was being called the Crash of 2008, and older traders were comparing it with Black Monday in 1987. The fall that week of 21% compared to a 28.3% fall 21 years earlier, but some traders were saying it was worse.
Oct. 19, 1987 was the day of the largest one day stock market drop in history -- and then-real estate investor Donald Trump claimed to have seen it coming.
19 Oct 1987 USA: Infamous stock market crash that represented the greatest one-day percentage decline in U.S. stock market history, culminating in a bear market after a more than 20% plunge in the S&P 500 and Dow Jones Industrial Average. Among the primary causes of the chaos were program trading and illiquidity, both of which fueled the ...
Société Générale’s Albert Edwards said that while some economists are expecting a soft landing his “view is that a recession still lurks.”
As the stock market continues to sell off, Investopedia shared an inside look at how investors are reacting. Caleb Silver, Investopedia Editor-in-Chief joins Yahoo Finance's On The Move to discuss.
In 1988, Garzarelli's fund was the worst-performing fund among growth stock funds. From 1988 to 1990, Garzarelli's fund underperformed the S&P 500 average by about 43 percent. Even the few investors who were in her fund before the crash in 1987 (when Garzarelli's fund outperformed the S&P 500 by about 26 percent) still lost.
Thursday marks the anniversary of Black Monday, when Wall Street had its worst single-day loss ever -- and no one saw it coming.