Black Monday – October 19, 1987

24 years ago today, October 19, 1987, the stock markets around the world crashed. The day was dubbed ‘Black Monday’. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a huge margin. The Dow Jones Industrial Average dropped by 508 points.

By the end of October, stock markets in Hong Kong had fallen 45.5%, Australia 41.8%, Spain 31%, the United Kingdom 26.45%, the United States 22.68%, and Canada 22.5%.

Most people feared that there would be a recession, or maybe even a new ‘Great Depression’. However, the stock market quickly rebounded. The Dow made record gains on Tuesday and again on Thursday. By the end of the year, the Dow was higher than it had been at the start of the year, and returned to its pre-Black Monday level just two years after the crash.

Despite fears of a recession, the stock market quickly rebounded. The Dow made record gains on Tuesday and again on Thursday. By the end of the year, the Dow was higher than it had been at the start of the year, and returned to its pre-Black Monday level just two years after the crash.

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