What nickname was given to the 1989 crash of the New York Stock Exchange?

The 1989 crash of the New York Stock Exchange was nicknamed the Friday the 13th mini-crash.

On Friday, October 13, 1989, the Dow Jones Industrial Average fell sharply after a highly leveraged takeover deal collapsed. The proposed buyout of United Airlines’ parent company had been a major focus of market attention, and its failure helped unsettle investors.

The Dow lost 190.58 points, or about 6.9%, in one session. At the time, that was one of the largest one-day percentage declines in the index’s history. The fall was severe but much smaller than the 1987 Black Monday collapse, which is why the episode is commonly described as a “mini-crash.”

This event is sometimes overlooked because it did not produce the same prolonged global panic as 1987. It nevertheless demonstrated how leveraged transactions, computerized trading, and concentrated investor expectations could amplify a sudden change in sentiment.