On October 19, 1987, Black Monday happened.

[mahatmakanejeeves]

Last edited Sat Oct 15, 2022, 07:14 AM - Edit history (1)

{Corrected. Original, and wrong, title, referring to a different drop in the Dow, on October 15, 2008:

"On this day, October 15, 1987, Black Monday happened."

For that event, see:

Sat Oct 15, 2022: On this day, October 15, 2008, the DJIA dropped 733 points.

Edited on Sat Oct 15, 2022}

Oh, boy, I remember this one. I didn't have a whole lot in stocks at the time. Another one of these would be disastrous.

Black Monday (1987)

Black Monday is the name commonly attached to the global, sudden, severe, and largely unexpected stock market crash on October 19, 1987. In Australia and New Zealand, the day is also referred to as Black Tuesday because of the time zone difference from the United States.

All of the twenty-three major world markets experienced a sharp decline in October 1987. When measured in United States dollars, eight markets declined by 20 to 29%, three by 30 to 39% (Malaysia, Mexico and New Zealand), and three by more than 40% (Hong Kong, Australia and Singapore). The least affected was Austria (a fall of 11.4%) while the most affected was Hong Kong with a drop of 45.8%. Out of twenty-three major industrial countries, nineteen had a decline greater than 20%. Worldwide losses were estimated at US$1.7 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression.

{snip}

[betsuni]

1. K&R

[lapfog_1]

2. First trip to CA

Interview for a big job at a company who was doing an IPO on the same day.

Needless to say the IPO was a disaster... almost nobody would even interview me...

there was no job offer.

The only other thing I remember was being driven around by a lady in real estate (both myself and my girlfriend came on the trip)... and the real estate person was talking about the "golden hills" on the east side of Silicon Valley... whereas all I saw was brown and looking like it was about to catch fire.

[gibraltar72]

3. Yeah I was on the phone with clients

all day. Telling them it was a paper loss. Most i reassured and reminded what the goal was. Some actually turned it into a real loss, but npt many.

[CornbreadJohnson]

4. I was only 8 at the time

So I was vaguely aware, I do remember talk of how the Japanese were going to take us over business-wise, and talk of hostile take overs.. I've avoided investing in the stock market, it amounts to gambling and the get-rich quick propaganda has caused a lot of working people to lose money.