Which 1989 market crash began after a failed leveraged buyout of United Airlines?

The 1989 market crash that began after a failed leveraged buyout of United Airlines was the Friday the 13th mini-crash.

On Friday, October 13, 1989, the Dow Jones Industrial Average fell 190.58 points, or 6.91%. The immediate trigger was the collapse of a proposed $6.75 billion leveraged buyout of United Airlines' parent company, UAL Corporation. The failed deal raised broader concerns about leveraged-finance markets.

The decline was concentrated in U.S. markets and was far smaller than the worldwide Black Monday crash of 1987. It nevertheless showed how a corporate-finance event could unsettle stock prices when investors were already sensitive to debt and takeover risks.

The nickname is also called the Friday the 13th mini-crash because the event happened on that calendar date. It should not be confused with the 1987 crash, which occurred on Monday, October 19, or with the 1929 crash days known as Black Monday and Black Tuesday.