Black Monday

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Black Monday

Black Monday Oct. 19, 1987, in U.S. history, day of financial panic. The Dow Jones Average 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.

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Black Monday

A Dictionary of Contemporary World History | 2004 | | Â© A Dictionary of Contemporary World History 2004, originally published by Oxford University Press 2004. (Hide copyright information) Copyright

Black Monday (19 Oct. 1987) The worst stock-market collapse since the Wall Street Crash, when the average share index (Dow Jones) on the New York Stock Exchange (Wall Street) fell by more than 20 per cent, leading to similar levels of decline in other stock markets around the world. It was caused mainly by overconfidence in the economy during the mid-1980s, which had led to a disproportionate inflation in share prices.

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JAN PALMOWSKI. "Black Monday." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. 5 Dec. 2009 <http://www.encyclopedia.com>.

JAN PALMOWSKI. "Black Monday." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. (December 5, 2009). http://www.encyclopedia.com/doc/1O46-BlackMonday.html

JAN PALMOWSKI. "Black Monday." A Dictionary of Contemporary World History. 2004. Retrieved December 05, 2009 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O46-BlackMonday.html

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