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Black Monday: Dow Jones Industrial Average Falls 508 Points (1987) Options
Daemon
Posted: Friday, October 19, 2012 12:00:00 AM
Rank: Advanced Member

Joined: 3/7/2009
Posts: 33,821
Neurons: 100,641
Location: Inside Farlex computers
Black Monday: Dow Jones Industrial Average Falls 508 Points (1987)

On what is known in the financial world as Black Monday, the Dow Jones Industrial Average fell 508 points, nearly 23%—the largest drop since 1914. Although the cause of the crash is still debated, its result was immediately apparent: it sent the value of markets plummeting worldwide. By the end of the month, markets in Hong Kong and Australia had lost over 40%. That December, a group of eminent economists predicted that the next few years could be the worst since the Great Depression. Were they? More...
GabhSigenod
Posted: Friday, October 19, 2012 1:12:40 PM

Rank: Advanced Member

Joined: 12/22/2010
Posts: 2,371
Neurons: 149,736
Location: Mulroog, Connaught, Ireland
It was just money, guys.
excaelis
Posted: Friday, October 19, 2012 3:33:26 PM

Rank: Advanced Member

Joined: 6/30/2010
Posts: 10,965
Neurons: 32,652
Location: Toronto, Ontario, Canada
Enabling many fabulously wealthy people to become even wealthier, while wiping out the average mutual fund investor. Strangre how it always seems to work that way...
LostinSC
Posted: Friday, October 19, 2012 4:50:21 PM
Rank: Advanced Member

Joined: 9/30/2012
Posts: 400
Neurons: 1,328
I recall the day well.

True, it's only money except when it's your only money.

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