Monday gave the 1987 global stock-market crash its famous name: Black Monday.
The crash took place on Monday, October 19, 1987. Markets in Asia and Europe had already fallen, and the selling intensified when the New York Stock Exchange opened. The Dow Jones Industrial Average lost 22.6%, while other major indexes also recorded enormous declines.
The weekday became part of the event’s identity because “Black Monday” was a simple label for an unusually severe market collapse. The name was later reused for other market disasters, including the 1929 Black Monday on October 28 and the 2020 Black Monday associated with an oil-price shock and pandemic fears.
The 1987 event was not caused by one universally accepted factor. Valuations, interest-rate concerns, international trade tensions, and automated selling all played roles. Central banks and financial institutions responded quickly, helping prevent the market panic from becoming a repeat of the 1930s depression.