Guide Note
On October 19, 1987 the Dow Jones Industrial Average (DJIA) saw its largest one-day stock market percentage decline (22.6%) in history. Similar huge drops occurred in stock markets across the world and the day was dubbed Black Monday.
The crash started in Hong Kong and spread west as various markets opened for the day. Therefore, much of Europe and Asia had already seen a large decline before United States markets opened.
Fast Facts
- The Dow Jones dropped 508 points to 1739 on Black Monday
- Markets bottomed on Tuesday, October 20, 1987
- By October's end, stock markets had fallen:
- 45.8% in Hong Kong
- 41.8% in Australia
- 31% in Spain
- 26.4% in The United Kingdom
- 22.68% in the United States
- 22.5% in Canada
- Following the crash, international markets were put on restricted training
Black Days
The terms Black Monday and Black Tuesday are also used to describe October 28 and 29, 1929, the days which followed the Black Thursday stock market crash of 1929.
In Australia and New Zealand, 1987's Black Monday is referred to as Black Tuesday, since the crash did not hit Oceania until the following day.
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