What nickname was given to the extreme U.S. stock-market plunge on October 13, 1989?

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

The Dow Jones Industrial Average fell 190.58 points, or about 6.9%, in a single session. The decline was triggered partly by the collapse of a proposed leveraged buyout of United Airlines, which raised fears about junk-bond financing and corporate takeover debt. Selling accelerated late in the day.

The shock was concentrated in U.S. markets and did not become a 1987-scale global collapse. Nevertheless, it highlighted the vulnerability created by leveraged transactions and computerized trading. The Dow recovered some losses soon afterward.

The event is also known simply as the October 1989 mini-crash. It should not be confused with “Black Friday” shopping or with the 1987 Black Monday crash, which was much larger by percentage.