What is Black Monday (1987)?
'''Black Monday''' is the name commonly attached to the global, sudden and largely unexpected [[stock market crash]] on October 19, 1987. In [[Australia]] and [[New Zealand]] it is called ''Black Tuesday'' because of time zone differences from the [[United States]]. All the twenty-three major world markets had sharp declines in October 1987. Under the [[United States dollar]], eight markets declined by 20% to 29%, three by 30% to 39% ([[Malaysia]], [[Mexico]] and [[New Zealand]] and another three by 40% or more ([[Australia]], [[Hong Kong]] and [[Singapore]]). It was the sharpest market downturn in the United States since the [[Great Depression]].<ref>{{cite news|title=Stock Market Crash 1987|publisher=Federal Reserve History|url=https://www.federalreservehistory.org/essays/stock-market-crash-of-1987|access-date=April 15, 2021}}</ref> This Black Monday was called the worst in history at the time.<ref>{{cite news|title=Black Monday 1987|publisher=CNN|url=https://money.cnn.com/2017/10/19/investing/romans-numeral-black-monday/index.html|access-date=April 15, 2021}}</ref> Circuit breakers were put up for stopping another 1987-like crash. It took two years for the Dow Jones to recover.<ref>{{cite news|title=30 Years Ago|publisher=US News|url=https://money.usnews.com/investing/buy-and-hold-strategy/articles/2017-10-12/30-years-ago-lessons-from-the-1987-stock-market-crash|access-date=April 15, 2021}}</ref> ==References== {{reflist}} [[Category:Financial crises]] [[Category:Economic history]] [[Category:1987 in the United States]]