What name describes the October 1989 U.S. market plunge linked partly to a failed buyout?
Answer
Friday the 13th mini-crash
Answer
Friday the 13th mini-crash
The October 1989 U.S. market plunge was called the Friday the 13th mini-crash.
On Friday, October 13, 1989, the Dow Jones Industrial Average fell 190.58 points, or about 6.9%, in a single session. The decline was associated partly with the collapse of a proposed leveraged buyout of UAL Corporation, the parent company of United Airlines. Investors also worried about interest rates, corporate debt, and the vulnerability created by computerized trading and program selling.
The event was much smaller than the October 1987 Black Monday crash, but its timing gave it a memorable name. It also differed from the 2010 Flash Crash, which was a sudden intraday plunge and rebound. The Friday decline did not mark the beginning of a long bear market.
Source: Wikipedia · fact-checked Sept. 2026