The 1987 global stock-market crash was called Black Monday.
On October 19, 1987, the Dow Jones Industrial Average fell 508.32 points, or 22.6 percent, in its largest one-day percentage decline. Selling spread rapidly to other markets, including Hong Kong, London, and Australia. The episode was global rather than limited to Wall Street.
Several factors were associated with the crash, including high share valuations, concerns about interest rates and trade deficits, and computerized portfolio-insurance strategies. Automated selling could reinforce falling prices, although no single cause fully explains the event.
Black Monday is often confused with the Black Monday labels used for other market crises. The 1987 event is specifically identified by its October 19 date and the unprecedented percentage fall in the Dow. Unlike the 1929 crash, it was not followed by a depression of comparable scale.