Which date is known as Black Monday, when the Dow Jones Industrial Average lost 22.6% in 1987?

Black Monday, when the Dow Jones Industrial Average lost 22.6% in 1987, occurred on October 19, 1987.

The one-day fall was the largest percentage decline in the Dow's history. Selling spread internationally, with major markets in Europe, Asia and elsewhere also suffering severe losses. The crash followed a prolonged rise in share prices and growing concern about interest rates, trade deficits and market valuations.

Computerized portfolio-insurance strategies and program trading contributed to the speed of the decline, although no single cause explains the entire event. The crash differed from 1929 because the economy did not enter a comparable decade-long depression.

The Federal Reserve, led by Alan Greenspan, supplied liquidity and publicly affirmed its readiness to support the financial system. Markets eventually stabilized, and the Dow recovered its pre-crash closing level by 1989.