Today is the 20th Anniversary of Black Monday that saw the second largest single day declines on major world stock markets. The US market declined by more than 22%, the Canadian market by a similar amount, the UK by more than 26%, Spain by more than 31%, Australia by nearly 42%, and the Hong Kong market by more than 45%!!!!
History of Black Monday can be found here.
Some people, such as Warren Buffet, have commented that they believe a crash like that of '87 or for that matter like that of 1929 which was at the start of the Great Depression could happen again. What do you think?!
I alluded to Black Monday in a previous post after Alan Greenspan had alluded to a possible US recesssion.
1 comment:
The DJIA ended up down nearly 367 points today, or approx. 2.64%, a thrashing, but nothing near the gigantic losses of Black Monday.
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