The Dow Jones Industrial Average lost 6.91% on 13 October 1989, the day called the Friday the 13th mini-crash.
The Dow fell 190.58 points during the session. The decline was linked to a breakdown in a proposed leveraged buyout of United Airlines’ parent company, UAL Corporation, along with broader concerns about financing and market valuations.
The episode was smaller than the global Black Monday crash of 1987, but it was still one of the Dow’s sharpest percentage declines at the time. The sell-off also hit other markets, especially technology shares and futures-linked trading.
The name distinguishes this event from the 1987 crash and from the 1929 Wall Street Crash. Its popular label comes from the calendar date, not from a separate long-term bear market. The exact percentage refers to the Dow’s one-day loss.