What date is associated with the 1989 Friday the 13th mini-crash?
Answer
October 13, 1989
The 1989 Friday the 13th mini-crash occurred on October 13, 1989.
The sell-off followed the collapse of a proposed leveraged buyout of United Airlines. Investors had expected the transaction to proceed, and its failure raised concerns about heavily leveraged deals and the availability of credit. The Dow Jones Industrial Average fell 190.58 points, or about 6.9%, in the session.
Although the decline was substantial, it was far smaller than the worldwide Black Monday crash of 1987. The event is therefore usually called a mini-crash, distinguishing it from broader market collapses.
The date is sometimes confused with October 13, 1987, because both years came soon after the 1987 crash and because “Friday the 13th” is a memorable label. The relevant event took place in 1989, two years after Black Monday.