The 1987 global stock-market crash was called Black Monday after its record Monday sell-off.
Black Monday refers to 19 October 1987, when the Dow Jones Industrial Average fell 508 points, or 22.6%. That percentage loss remains the largest single-day decline in the Dow’s history. Stock markets in Europe, Asia and elsewhere also suffered major falls, making the episode a worldwide crash.
The decline followed a powerful bull market and was worsened by automated trading strategies, portfolio insurance and concerns about interest rates, currencies and trade. Unlike the 1929 crash, it did not lead to a comparable decade-long depression.
The name can cause confusion because “Black Monday” is also used for other market collapses, including the 1987 event’s anniversary in some contexts. In standard financial history, however, Black Monday most directly identifies the global crash of 19 October 1987.