Anyone remember Monday October 19, 1987? Largest percentage single day loss of the DJIA in history

[NNN0LHI]

http://en.wikipedia.org/wiki/Black_Monday_(1987)

Black Monday

In finance, Black Monday refers to Monday October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).

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http://en.wikipedia.org/wiki/List_of_largest_daily_changes_in_the_Dow_Jones_Industrial_Average

Largest daily percentage losses

Largest daily percentage losses Rank Date Close Net Change % Change

1 1987-10-19 1,738.74 −508.00 −22.61

2 1929-10-28 260.64 −38.33 −12.82

[kenny blankenship]

1. Certainly do. That was the event that got the Fed into directly backstopping the Wall St. casino

Too Big To Fail was invented that day. It has been all downhill from there. Unless you are part of the 1%, of course, in which case it has been all gravy. Central bank guaranteed gravy. Check out the gravy graph and see how the good times for the investor class correlate to the creation of the Greenspan Put.

http://chart.finance.yahoo.com/z?s=%5eDJI&t=my&q=l&l=off&z=l&a=v&p=s&lang=en-US®ion=US

And if there are some poor schmucks somewhere who haven't participated in the resulting feast, let them eat the moral hazard.

Thanks, Greenspan!

[AnneD]

2. I remember well....

I had just got out of the market the week before. It didn't help though, I lost my job 6 months later and it took over a year to find another. I eventually retooled and have been working every since. Left the oil patch for the hospital.

The lessons I learn going through that hell were invaluable. I learned then what some folks are having to learn now.

[Tuesday Afternoon]

3. I remember. n/t

[wtmusic]

4. It came 2-1/2 weeks after the Whittier Narrows Earthquake

in SoCal, and the ground was still rumbling with aftershocks. Plus 114° heat, in October.

Felt like end times.

[closeupready]

5. Yes I do. I was doing some photocopying at the campus library, part-time job,

and my boss said the Dow had dropped 400 points or whatever it was.

[sarcasmo]

6. Now don't they shut it down if it drops a certain number of points?

Casino is right, the house usually wins.

[Owlet]

7. Here's the History

Largest percentage loss by a LOT.

[denverbill]

8. Yes, that was a real jaw-dropper.

I used to watch a lot of CNBC back then and it made for a interesting few weeks after that.

[Pacifist Patriot]

9. Sure do. Sophomore in college and the repercussions almost...

resulted in me being unable to return for my junior year.

[Gregorian]

10. Of all places I wsa in an economics lecture.

Unfortunately I don't remember what was said by the professor.