What nickname was given to the sharp global stock-market fall on October 27, 1997?

The sharp global stock-market fall on October 27, 1997, became known as the Mini-crash of 1997.

The decline occurred while the Asian financial crisis was spreading beyond its initial currency and banking shocks. Investors were increasingly concerned about economic weakness, corporate debt, and the possibility that financial problems in Asia could damage markets elsewhere. Selling pressure affected major exchanges around the world.

The Dow Jones Industrial Average fell 554.26 points, or 7.18%, on October 27, 1997. Trading rules known as circuit breakers halted trading temporarily as the market moved rapidly. The fall was serious, but it did not develop into a prolonged crash on the scale of 1929 or 1987.

The event is often confused with Black Monday, the name commonly associated with October 19, 1987. It is also distinct from the 2010 Flash Crash, which involved an exceptionally rapid intraday decline in U.S. markets.