Black Monday

(noun)

In finance, the date of October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time; the crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin; the Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).

Related Terms

Examples of Black Monday in the following topics:

  • "Black Monday" and the Long Bull Market

    • On Monday, October 19, 1987, the value of stocks plummeted on markets around the world.

  • The Recession

    • On Black Monday of October 1987, a stock collapse of unprecedented size caused the Dow Jones Industrial Average to fall by 22.6%.

  • Implications and Limitations of the Efficient Market Hypothesis

    • Rational investors have difficulty profiting by shorting irrational bubbles because, as John Maynard Keynes commented, "markets can remain irrational far longer than you or I can remain solvent. " Sudden market crashes, like the one that occurred on Black Monday in 1987, are mysterious from the perspective of efficient markets, but allowed as a rare statistical event under the Weak-form of EMH.

  • Wall Street Crash of 1929

    • However, the one-day crash of Black Monday, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, was worse in percentage terms than any single day of the 1929 crash.

  • The Great Depression

    • On October 24, 1929, also known as Black Thursday, the value of common stock and shares in the U.S. market dropped by 40% and a massive, debilitating economic downward spiral was set in motion.
    • The high-speed wind storms that helped destroy the farmlands reportedly reached up to 60 miles per hour on April 14, 1935, also known as Black Sunday.
    • Yet the one-day crash of October 19, 1987, known as Black Monday, when the Dow Jones Industrial Average fell 22.6%, was worse in percentage terms than any single day of the 1929 crash.

  • Montgomery and Protests

    • On Thursday, December 1, 1955, Parks was sitting in the frontmost row for black people on the bus.
    • We are, therefore, asking every Negro to stay off the buses Monday in protest of the arrest and trial.
    • Don't ride the buses to work, to town, to school, or anywhere on Monday.
    • But please, children and grown-ups, don't ride the bus at all on Monday.
    • Please stay off all buses Monday.

  • Confidence intervals exercises

    • Daily consumer spending for the six-day period after Thanksgiving, spanning the Black Friday weekend and Cyber Monday, averaged $84.71.

  • Technological Advancement

    • The television industry's National Television System Committee(NTSC) developed a color television system based on RCA technology that was compatible with existing black and white receivers, and commercial color broadcasts reappeared in 1953.
    • Emmy-winning comedy (1951–1960) I Love Lucy starred husband and wife Desi Arnaz and Lucille Ball and enjoyed such popularity that some businesses closed early on Monday nights in order to allow employees to hurry home for the show.

  • Black Power

    • Black Power emphasized racial pride, the creation of political and social institutions against oppression, and advancement of black collective interests.
    • "Black Power" is a term used to refer to various ideologies associated with African Americans in the United States, emphasizing racial pride and the creation of black political and cultural institutions to nurture and promote black collective interests and advance black values.
    • Black Power meant a variety of things.
    • Martin Luther King, Jr. was not comfortable with the "Black Power" slogan, which sounded too much like black nationalism to him.
    • The 1960s composed a decade not only of Black Power but also of Black Pride.

  • Mobilizing a Nation

    • The War Department drafted hundreds of thousands of African-American men into the army with equal pay, but placed them in segregated units with black soldiers led by white officers.
    • Largely kept out of combat, a group of black service members protested directly to Wilson but were met by his response, “Segregation is not a humiliation but a benefit, and ought to be so regarded by you gentlemen.”
    • Apart from "Wheatless Wednesdays" and "Meatless Tuesdays" due to poor harvests in 1916 and 1917, there were "Fuelless Mondays" and "Gasless Sundays" to preserve coal and gasoline.