Which 1989 crash saw the Dow Jones Industrial Average fall 190.58 points on October 13?

The 1989 crash in which the Dow Jones Industrial Average fell 190.58 points on October 13 was the Friday the 13th mini-crash.

On Friday, October 13, 1989, the Dow dropped 190.58 points, or about 6.9%. The decline followed the collapse of a proposed leveraged buyout of United Airlines. Investors feared that the failure signaled tighter credit and weaker appetite for highly leveraged corporate deals.

The sell-off was smaller and shorter than the October 1987 crash, so it became known as a mini-crash. It also occurred during a period when computerized trading, derivatives, and new financial instruments were changing how markets transmitted shocks.

The event is sometimes confused with Black Monday, which refers most famously to October 19, 1987. The two crashes were separate: Black Monday produced a much larger one-day percentage decline, while the 1989 mini-crash was closely associated with the failed United Airlines buyout.