Black Monday


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Related to Black Monday: Black Friday, Black Tuesday

Black Monday

Refers to October 19, 1987, when the Dow Jones Industrial Average fell 508 points on the heels of sharp drops the previous week. On Monday, October 27, 1997, the Dow dropped 554 points. While the point drop set a new record, the percentage decline was substantially less than in 1987.

Black Monday

October 28, 1929. The date of one of the large stock market crashes that presaged the Great Depression. While the Great Depression had already begun in some areas, Black Monday, which followed Black Thursday, showed that the crash of the previous week was not a one-time event and helped mark the end of the speculative bubble that had characterized most investing in the 1920s. Black Tuesday followed the next day. The Great Depression contributed to the formation of most regulation still in force today.

Black Monday

A widely used reference to October 19, 1987, the day the Dow Jones Industrial Average dropped a record 508 points, or nearly 23%. Disarray in the financial markets resulted from a combination of trade deficits, budget deficits, and potential government regulation of mergers and issuance of junk bonds.
References in periodicals archive ?
Ultimately, if a trader opened a spread bet on the first trading day of the year, January 2, and was able to keep it open throughout Black Monday all the way to December 31, it is possible that they would not have lost a penny.
Federal Reserve Chairman Alan Greenspan has described the current stock market turmoil as ''identical'' to the 1987 Black Monday crash, the Wall Street Journal reported in its online edition Friday.
If the dollar depreciates too quickly, it could precipitate a sell-off in stock markets (like Black Monday in 1987, which was instigated by then Treasury secretary James Baker's attempts to push the dollar lower).
1987 Wall Street was struck by Black Monday, when millions were wiped out by stockmarkets around the world.
Bergsten himself says that the post-Plaza decline "set the dollar up for a hard landing" and "contributed mightily to Black Monday in the stock market that October.
Little did he know his first day on the job was doomed to be Black Monday, the nightmarish day when internal auditors trying to clean up the company's financial mess announced that $122 million (US) had allegedly been sunk into private investments without the knowledge or approval of the board of directors.
It turns out Woodward has parachuted us right into Black Monday, the biggest one-day slide in stock market history.
She must have had a lot of her investment in cash, or solid stocks, especially during Black Monday in 1987 and she must have spent a lot of time moving stocks and shares around and ensuring her money was working to its full potential for her and her son.
By contrast, almost all tactical asset allocators were largely out of the stock market on Black Monday.
IN THE aftermath of Black Monday, Jordan Belfort (Leonardo DiCaprio) loses his job and is forced to sell penny stocks at a fly-by-night operation in Long Island.