What was the nickname of the October 13, 1989 U.S. market plunge linked to a failed buyout?

The October 13, 1989 U.S. market plunge was nicknamed the Friday the 13th mini-crash.

The event occurred after the planned leveraged buyout of United Airlines’ parent company collapsed. Investors had expected the deal to proceed, and its failure raised concerns about highly leveraged acquisitions and the health of the broader financial system.

The Dow Jones Industrial Average fell 190.58 points, or 6.91%, in a single session. The decline was particularly notable because it came only two years after the much larger Black Monday crash of 1987. Markets recovered part of the loss relatively quickly, so the episode became known as a mini-crash rather than a prolonged market collapse.

The nickname refers to the calendar date, not to a permanent market condition. It is also distinct from the Black Friday of 1869, an earlier U.S. financial panic involving the gold market.