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Black Monday

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia, Hutchinson 0.13 sec.
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
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.


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