On what date did the Dow Jones Industrial Average fall 22.6% during the 1987 crash?

The Dow Jones Industrial Average fell 22.6% on October 19, 1987, during the 1987 crash.

The date became known as Black Monday. It remains the largest one-day percentage decline in the Dow’s history. The fall occurred amid concerns about overvaluation, rising interest rates, international trade tensions, and a weakening dollar. Program trading and portfolio insurance also amplified selling once prices began to move rapidly.

The decline was not limited to the United States. Stock markets in Hong Kong, the United Kingdom, Australia, and other countries also suffered steep losses, making the episode a genuinely global crash. Unlike the Great Crash of 1929, however, the 1987 collapse did not lead to a comparable worldwide depression.

The Federal Reserve, led by Chairman Alan Greenspan, issued a statement affirming its readiness to serve as a source of liquidity. Central-bank cooperation, market reforms, and changes to trading mechanisms helped stabilize markets. Circuit breakers introduced afterward were designed to pause trading during extreme movements.