Quotes About Black Monday

Then came Black Monday, October 19, 1987, when the bottom simply fell out. A record-cracking 600 million shares were traded on the Big Board that day, as the Dow Jones Industrial Average plummeted 508 points—a 22.6 percent fall, more than twice the damage inflicted on the worst day of the historic 1929 crash. The S&P 500 dropped almost as far, just as fast.

I helped start a ceramics company called CPS Technologies. We took it public in 1987 at $12 a share. Three months later, there was this horrible cliff: Black Monday. Fidelity had bought 15 percent of our stock, and their algorithm caused them to dump it all onto the market that day. We dropped from $12 to $2.

The Great Depression, the 1973 oil crisis, the rapid inflation of the late '70s, the British sterling crisis of 1976, Black Monday in 1987, the dot-com bubble of 2000, the housing bust in 2008, the 28% drop in gold prices in 2013—all of these surprises caught most investments professionals way off guard.

European equities are set to cautiously open flat this Friday morning after what's been a rollercoaster week, London Capital Group dealer Farbod Mimeh said. "Markets seem to have regained a bit of confidence with the memories of the dramatic falls on "Black Monday" still very much fresh in the mind of investors," Mimeh said. http://www.proshareclubs.co.uk/cgi-bin/proshareclubs/story.cgi?story_id=23232856