Which 1989 U.S. takeover-related market crash is called the Friday the 13th mini-crash?

The 1989 U.S. takeover-related market crash is called the Friday the 13th mini-crash.

On Friday, 13 October 1989, the Dow Jones Industrial Average fell 190.58 points, or about 6.9%. The decline was associated with the collapse of a proposed leveraged buyout of United Airlines. Investors had become concerned about the availability and cost of financing for large acquisitions, and the failed deal abruptly damaged confidence in the broader takeover market.

The episode was called a “mini-crash” because its one-day fall was severe but much smaller than the 1987 crash. It also differed from a conventional economic recession signal: the immediate trigger was financial-market and deal-financing uncertainty rather than a single newly released measure of national output.

The event is easy to confuse with other named market days. Friday the 13th mini-crash refers specifically to 13 October 1989, while Black Monday refers to 19 October 1987. The 1989 decline also occurred during a period when leveraged acquisitions and high-yield financing were prominent subjects in U.S. markets.