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Black Monday: Ever One-Day Stock Market

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Gabe Vernetti Mrs Wilson English 2 4/29/24. Black Monday “This, today, right now, will seem like the good old days in 2 weeks, things are about to get a hell of a lot worse.” (Malloy) October 19th, 1987 the Dow Jones dropped 20% and ruined many people's lives, lifestyles, families, and retirement savings. During Black Monday, the Dow Jones Industrial stock dropped 508 points behind and wiped out five hundred billion dollars, which was at the time the biggest ever one-day stock market loss. Black Monday, was the world's largest stock market crash in the history of investing, and stocks. The Black Monday stock market crash refers to what happened in October 1987. “On October 19th, 1987, the global stock markets were introduced to a sudden drop in percentages as the Dow Jones Industrial Average dropped 22.6 percent, which marked the biggest decline in a single day in the history of the market.” (Backhouse) Multiple factors contributed to the sudden crash, which included overvaluation of certain …show more content…

Before the Black Monday historical incident, stock prices were rapidly increasing, because of speculation and inflated values of stocks. “Computers have made it so that everybody can trade now. “(Black Monday Documentary) This era was when computers were new to the stock market, where computers were used to automate trading systems, and they also sold large orders which contributed to a big and steep decline. Automated systems are programmed to execute large-volume trades based on specific market conditions without human intervention. Computers lead to a mass escalation in selling pressure once certain conditions are met. The Black Monday stock crash had a significantly large impact on the global and financial markets. The crash led to widespread fears and left many people uncertain about trading. Furthermore, many banks and policymakers took very quick action to help stabilize markets. As a result, these

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