(1987) Mayhem strikes Wall Street and world marketsHong Kong’s stock market is the first domino to fall in a cascade of global financial markets sent tumbling by a combination of faulty computer-assisted trading, oil price fluctuations, missile attacks on US vessels, and even a cyclone in the UK. The Dow Jones falls by a precipitous 508 points, or more than 22 percent.In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average fell exactly 508 points to 1,738.74. In Australia and New Zealand, the 1987 crash is also referred to as “Black Tuesday” because of the time zone difference.
Date: Oct 19, 1987 Timeline compiled by the Federal Reserve.
(1987) Mayhem strikes Wall Street and world markets
