What 1989 Japanese market event was nicknamed the Friday the 13th mini-crash?

The 1989 Japanese market event nicknamed the Friday the 13th mini-crash was the Friday the 13th mini-crash.

It occurred on Friday, October 13, 1989, when the Nikkei 225 fell sharply. The decline was associated with concern about the highly valued Japanese equity market and followed a period in which prices had risen dramatically as part of Japan’s late-1980s asset bubble.

The session is remembered as an early warning that market confidence was becoming fragile. It was not the final collapse of Japanese stocks: the Nikkei reached its record close later, on December 29, 1989, before entering a much longer decline in the early 1990s.

The name can cause confusion because “Black Monday” is associated with the global crash of October 19, 1987, and also with the pandemic-related decline of March 9, 2020. The Friday the 13th mini-crash is specifically the Japanese market fall on October 13, 1989.