Home Today Years Ago October 19, 1987: Black Monday Plunges the World Into Recession
October 19, 1987: Black Monday Plunges the World Into Recession
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October 19, 1987: Black Monday Plunges the World Into Recession

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Today in 1987, stock markets around the world crashed significantly, leading to another Black Monday (Black Tuesday in Australia and New Zealand). It still remains the largest single-day drop in the history of the Dow Jones Industrial Average, falling 22.61%. The crash began in Hong Kong and quickly spread across Europe and to the United States. New Zealand had a particularly hard time recovering due to the refusal of the Reserve Bank of New Zealand to loosen monetary policies in response to the crash.