Which 1989 market crash is commonly called the “Mini-Crash” or “Friday the 13th mini-crash”?

The Friday the 13th mini-crash is the 1989 market crash commonly known by that name.

On Friday, October 13, 1989, the Dow Jones Industrial Average fell 190.58 points, or about 6.9%. The decline followed the collapse of a proposed leveraged buyout of United Airlines’ parent company, UAL Corporation. Investors became concerned about the availability of credit and the broader use of debt-financed acquisitions.

The market drop was severe but brief compared with the crashes of 1929, 1987, and 2008. It became known as the “Mini-Crash” because it was a sudden, highly visible break in market confidence without producing a prolonged depression.

The episode also illustrated how corporate-finance news could affect the entire market when investors were already sensitive to leverage and interest rates. Its nickname combines the date with the traditional superstition surrounding Friday the 13th, making it one of the more memorable named market shocks.