What nickname describes the U.S. stock-market plunge on Friday, October 13, 1989?

The U.S. stock-market plunge on Friday, October 13, 1989, is called the Friday the 13th mini-crash.

The Dow Jones Industrial Average fell 190.58 points, or about 6.9%, that day. The immediate shock came from the collapse of a proposed leveraged buyout of United Airlines’ parent company, UAL Corporation, although broader market concerns also influenced trading.

The episode occurred two years after the much larger worldwide crash of October 1987. Because the 1989 fall was concentrated in one session and was followed by a relatively rapid recovery, it became known as a “mini-crash.”

It is distinct from Black Monday in 1987 and from the October 1989 market declines in other countries. The calendar date supplied the memorable nickname, rather than the event’s being associated with a Monday or Tuesday.