The 1987 crash’s nickname was Black Monday. The name refers specifically to October 19, 1987, when stock markets around the world suffered exceptionally large falls, with the Dow Jones Industrial Average dropping 22.6%.
The phrase echoed the language used for the 1929 Wall Street Crash. In 1929, major panic days included Black Thursday, October 24, and Black Tuesday, October 29. The 1987 name therefore reflects a historical comparison rather than a connection to one identical cause.
Trading was highly international by 1987, so the crash moved rapidly from one market to another. The declines were especially severe in Hong Kong and Australia before reaching Europe and North America. The episode also drew attention to computerized trading and portfolio insurance.
After the crash, U.S. markets introduced circuit breakers that could temporarily halt trading after unusually large moves. The crash remains an important example of how market structure, investor behavior, and international links can amplify a sudden sell-off.