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Black Monday |
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Black Monday, Oct. 19, 1987, in U.S. history, day of financial panic. The Dow Jones Average Dow Jones Average, indicators used to measure and report value changes in representative stock groupings on the New York stock exchange. There are four different averages—industrial stocks, transportation stocks, utility stocks, and a composite average of all
..... Click the link for more information. fell 508.32 points, a drop of 22.6%, the largest since 1914. The point decline as well as the volume, 604.33 million shares, exceeded previous records. Among the possible causes were investors' anxiety about U.S. international trade and federal deficits, U.S. criticism of West Germany's economic policies, the cascading effect of the automatic computerized selling of stocks, and the drop in stock-index futures triggered by computerized trading programs. Stocks throughout the world joined the slide. By mid-1988 the stock market had recovered, and the U.S. economy was largely unaffected by the crash. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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