Black Monday

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Black Monday,

Oct. 19, 1987, in U.S. history, day of financial panic. The Dow Jones AverageDow 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 three.
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 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 and U.S. criticism of West Germany's economic policies, but the drop was greatly aggravated by the cascading effect of the automatic computerized selling of stocks interacting with the similar selling of stock-index futures triggered by computer programs using such futures to hedge against the fall in stock prices. 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.
References in periodicals archive ?
After Bloody Monday in the Eastern Mediterranean, we can complete that couplet.
Bloody Monday is the name given to a day--January 26, 2009, to be exact--when 71,400 jobs are lost.
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The story is about an Irish immigrant boy in Kentucky during the 1855 Bloody Monday period.
In what is being called Bloody Monday by team executives and coaches around the league, the dismissals were carried out for a variety of reasons, ranging from not living up to high expectations to failing to keep a tight rein on players.
of Cincinnati, which dipped less than two percent the day after Bloody Monday and ended the week 2.