Name: What Happened On Black Monday?
Uploaded: 2020-10-23T20:41:38.000Z
Duration: 1 min 48 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

October 19th 1987 a day that would come to be known as Black.

Past perfect

It's still the biggest one day percentage loss of all time.

That means bigger than the 1929 stock market crash or when trading reopened after the September 11th attacks, or during the financial crisis that almost wiped out the global economy.

Here's how CNN reported Black Monday at the time.

The stock market today crashed the Dow Jones industrials, every other major index breaking records in its plummet downward.

And it was blamed on a number of factors.

Heightened hostilities in the Persian Gulf.

Ah, five year bull market without a significant correction at all and program trading.

But really the word you heard over and over again this is a panic.

This'll nose dive was pure investor panic.

We'll panic is the only way to describe what happened on Wall Street today.

That's a big part of what separates a crash from just a really bad day on Wall Street when emotion takes over, when trading is no longer call more orderly.

Ah, panic is always theoretically possible, but a 22% decline on the Dow.

That's less likely because of circuit breakers first implemented after the Black Monday freefall circuit breakers kick in to halt trading when stocks dive too far too fast.

Think of it as a trading time out, designed to give investors a chance to calm down.

 In other words, Thio interrupt a panic and maybe to prevent another black Monday. 

Subtitles ListPlay Video

What Happened On Black Monday?

significant

panic

crisis

fear