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Black Monday

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Black Monday

Not who you're looking for? Others named Black Monday: 1922 film directed by Robert A. Dietrich · 1988 card game by Hexagames · album by Dice · 1979 rally turned riot in Malta

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What's driving coverage of Black Monday right now?

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Black Monday across IJR

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Overview

Black Monday (also known as Black Tuesday in some parts of the world due to timezone differences) was the global, severe and largely unexpected stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression. Possible explanations for the initial fall in stock prices include a nervous fear that stocks were significantly overvalued and were certain to undergo a correction, persistent US trade and budget deficits, and rising interest rates. Another explanation for Black Monday comes from the decline of the dollar, followed by a lack of faith in governmental attempts to stop that decline. In February 1987 leading industrial countries had signed the Louvre Accord, hoping that monetary policy coordination would stabilize international money markets, but doubts about the viability of the accord created a crisis of confidence. The fall may have been accelerated by portfolio insurance hedging (using computer-based models to buy or sell index futures in various stock market conditions) or a self-reinforcing contagion of fear. The degree to which the stock market crashes spread to the wider (or "real") economy was directly related to the monetary policy each nation pursued in response. The central banks of the United States, West Germany and Japan provided market liquidity to prevent debt defaults among financial institutions, and the impact on the real economy was relatively limited and short-lived. However, refusal to loosen monetary policy by the Reserve Bank of New Zealand had sharply negative and relatively long-term consequences for both its financial markets and real economy. United States

From Wikipedia (CC BY-SA 4.0).

Notable quotes

“But a false brother gave notice of the citizens intentions to the enemy, then lurking in the neighbouring mountains, who marching down privately, laid an ambush in Cullen's-wood, who fell on the citizens unprepared and fatigued with the laborious diversion, and slew upwards of five hundred of them. This disaster happened in the year 1209, and ever since hath been called black-monday.”
— Walter Harris, Robert Ware, The History and Antiquities of the City of Dublin (1766)
“Black Monday – Easter Monday, 1360, when the cold was so intense, that the English troops before Paris, under Edward III, suffered severely. The expression must have been subsequently employed in a somewhat vague sense, and among other uses, by schoolboys, as it was an usual day for returning from the holidays.”
— John Brand, Brand's Popular Antiquities of Great Britain (1777)
“Just as the stock market crash of October 28, 1929, has forever come to be remembered as "Black Tuesday," so October 19, 1987, has come to be known as "Black Monday." It was on this day that the stock market again crashed, precipitating one of the first financial crises of the modern globalized era, as the Dow Jones Industrial Average (DJIA) dropped 508 points, or 22.6% of its value.”
— Library of Congress, Business Reference Services (April, 2008)

Quotes via Wikiquote (CC BY-SA), each with its original source.

Black Monday (also known as Black Tuesday in some parts of the world due to timezone differences) was the global, severe and largely unexpected stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression.

Overview

Black Monday (also known as Black Tuesday in some parts of the world due to timezone differences) was the global, severe and largely unexpected stock market crash on Monday, October 19, 1987. Worldwide losses were estimated at US$1.71 trillion. The severity of the crash sparked fears of extended economic instability or even a reprise of the Great Depression. Possible explanations for the initial fall in stock prices include a nervous fear that stocks were significantly overvalued and were certain to undergo a correction, persistent US trade and budget deficits, and rising interest rates. Another explanation for Black Monday comes from the decline of the dollar, followed by a lack of faith in governmental attempts to stop that decline. In February 1987 leading industrial countries had signed the Louvre Accord, hoping that monetary policy coordination would stabilize international money markets, but doubts about the viability of the accord created a crisis of confidence. The fall may have been accelerated by portfolio insurance hedging (using computer-based models to buy or sell index futures in various stock market conditions) or a self-reinforcing contagion of fear. The degree to which the stock market crashes spread to the wider (or "real") economy was directly related to the monetary policy each nation pursued in response. The central banks of the United States, West Germany and Japan provided market liquidity to prevent debt defaults among financial institutions, and the impact on the real economy was relatively limited and short-lived. However, refusal to loosen monetary policy by the Reserve Bank of New Zealand had sharply negative and relatively long-term consequences for both its financial markets and real economy. United States

From Wikipedia (CC BY-SA 4.0).

Notable quotes

“But a false brother gave notice of the citizens intentions to the enemy, then lurking in the neighbouring mountains, who marching down privately, laid an ambush in Cullen's-wood, who fell on the citizens unprepared and fatigued with the laborious diversion, and slew upwards of five hundred of them. This disaster happened in the year 1209, and ever since hath been called black-monday.”
— Walter Harris, Robert Ware, The History and Antiquities of the City of Dublin (1766)
“Black Monday – Easter Monday, 1360, when the cold was so intense, that the English troops before Paris, under Edward III, suffered severely. The expression must have been subsequently employed in a somewhat vague sense, and among other uses, by schoolboys, as it was an usual day for returning from the holidays.”
— John Brand, Brand's Popular Antiquities of Great Britain (1777)
“Just as the stock market crash of October 28, 1929, has forever come to be remembered as "Black Tuesday," so October 19, 1987, has come to be known as "Black Monday." It was on this day that the stock market again crashed, precipitating one of the first financial crises of the modern globalized era, as the Dow Jones Industrial Average (DJIA) dropped 508 points, or 22.6% of its value.”
— Library of Congress, Business Reference Services (April, 2008)

Quotes via Wikiquote (CC BY-SA), each with its original source.

Black Monday across IJR

Ask Genius by OpenServe about Black Monday Create in Studio Build a game Watch videos

Not who you're looking for? Others named Black Monday: 1922 film directed by Robert A. Dietrich · 1988 card game by Hexagames · album by Dice · 1979 rally turned riot in Malta