Which U.S. stock-market crash followed the 1980s savings-and-loan crisis and began on October 13, 1989?

The U.S. stock-market crash that began on October 13, 1989, was called the Friday the 13th mini-crash.

The event began after the proposed leveraged buyout of United Airlines collapsed. Investors had expected the deal to proceed, and its failure contributed to a sharp sell-off in airline and financial shares. The Dow Jones Industrial Average fell 190.58 points, or 6.91%, in that session.

The crash was also associated with concerns about junk bonds, corporate takeovers, and the broader financial strain surrounding the savings-and-loan crisis. Unlike the 1987 crash, it did not produce a comparable worldwide market collapse, which explains the “mini-crash” label.

The date makes the event memorable, but “Friday the 13th” is its established historical name rather than a claim that superstition caused the decline. It is distinct from Black Friday labels used for several other financial crises.