stock market crash of 1987
Definition
One of the most severe stock market crashes ever, which occurred on October 19, 1987. The Dow Jones fell 22.6%, the largest percentage ever lost in one day, and it amounted to a loss of $500 billion of value for the stockholders. It has been nicknamed "Black Monday." There is no definitive explanation for why the stock market experienced this major crash on this date, but it is largely attributed to mass panic, and the influence of program trading.
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