Which 1989 market crash began on October 13 after a failed takeover bid for United Airlines was announced?

The 1989 market crash that began on October 13 after a failed takeover bid for United Airlines was announced was the Friday the 13th mini-crash.

The Dow Jones Industrial Average fell 190.58 points, or 6.91 percent, on Friday, October 13, 1989. The immediate trigger was the announcement that a leveraged buyout of United Airlines had failed, but the decline reflected wider worries about takeover financing and highly leveraged transactions.

The fall was concentrated in U.S. markets and was far smaller than the 1987 Black Monday collapse. Nevertheless, it demonstrated how corporate-finance news could affect broad indexes when investors were already concerned about debt and takeover structures.

The episode is sometimes confused with the 1987 crash because both occurred in the same decade. Their dates and triggers were different: Black Monday was a global October 1987 collapse, while the Friday the 13th mini-crash followed a 1989 deal announcement.