Which 1987 Hong Kong crash helped trigger the global Black Monday market turmoil?

The Hong Kong stock market crash of October 1987 helped trigger the global Black Monday market turmoil.

Hong Kong’s Hang Seng Index fell dramatically during October 1987, after months of international market weakness and growing investor anxiety. Hong Kong’s close financial links with other markets meant that its losses contributed to an atmosphere of fear before the collapse spread across the world.

On October 19, 1987, markets in the United States and many other countries suffered exceptional declines. The Dow Jones Industrial Average lost 22.6 percent, while the crisis also affected Europe, Australia, and other Asian markets.

This event is distinct from the Asian financial crisis of 1997. The 1987 crash centered on a worldwide equity-market shock, whereas the 1997 crisis began with currency and banking pressures in Thailand and spread through emerging Asian economies.