Black Monday, the 1987 global stock-market crash, occurred on 19 October 1987.
The Dow Jones Industrial Average fell 22.6% that day, its largest one-day percentage decline. Markets in Europe, Asia, Australia, and Canada also recorded severe losses, making the event international rather than solely American.
Several factors contributed, including rising interest rates, concerns about the U.S. trade deficit, computerized trading, and portfolio-insurance strategies that encouraged automatic selling. The scale of the decline was not caused by one single news event.
The 1987 crash is often confused with the 1929 Wall Street Crash, but the two occurred nearly six decades apart. The 1987 collapse also differed from 2008: it was extraordinarily sharp but did not lead to a depression, and markets later recovered. Regulators subsequently introduced circuit breakers and other safeguards intended to slow disorderly trading.