What nickname was given to the October 27, 1997 global stock-market crash?

The October 27, 1997 global stock-market crash was nicknamed Black Monday.

On October 27, 1997, the Dow Jones Industrial Average fell 554.26 points, or 7.18%, as investors reacted to the spreading Asian financial crisis. The loss was large enough to trigger the New York Stock Exchange’s newly established circuit-breaker system, which halted trading temporarily.

The episode is frequently confused with the more famous Black Monday of October 19, 1987. Both dates describe severe Monday market declines, but they belong to different crises. The 1997 event was linked especially to turmoil in Asian currencies and equities, while the 1987 crash involved broader valuation, liquidity, and computerized-selling concerns.

Despite the sharp fall, the 1997 decline did not become a repeat of the Great Depression. U.S. markets recovered relatively quickly, although financial stress continued internationally into 1998.