• If the Dow dropped 22% like it did in 1987, it would mean a loss of more than 5,700 points today

    24 days ago - By CNBC

    Friday marks the 31st anniversary of "Black Monday," by far the worst day ever in the U.S. stock market. On that day, the Dow plummeted 22.6 percent, or 507.99 points at the time.
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  • Trump claimed that he dumped all of his stocks right before the Black Monday crash in 1987 and blamed the US trade deficit for the fall

    Trump claimed that he dumped all of his stocks right before the Black Monday crash in 1987 and blamed the US trade deficit for the fall

    24 days ago - By Business Insider

    Black Monday, October 19, 1987 was the day of the largest one day stock market drop in history.
    Then-real estate investor Donald Trump told the Wall Street Journal the next day that he had dumped all his stock in the preceding months before the crash.
    "I think the market is going to go down further, there are just too many things wrong with the country," Trump said.
    On Monday, October 19, 1987 the stock market was rocked by the worst one-day fall in history with the Dow Jones industrial average falling 508 points, or 22.7%.
    Luckily, now-President, then-real estate investor Donald Trump...
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  • A Wall Streeter who started his career on Black Monday recalls the pandemonium of the biggest one-day crash in stock market history

    A Wall Streeter who started his career on Black Monday recalls the pandemonium of the biggest one-day crash in stock market history

    24 days ago - By Business Insider

    Friday, October 19, marks the 31st anniversary of Black Monday, when the Dow Jones industrial average suffered a record 22% crash.
    David Rosenberg, now the chief economist at Gluskin Sheff, was just starting out on Wall Street as the stock market crashed. "I had never in my life seen such pandemonium either professionally or personally," he recalled.
    An important lesson from that day that economists got but traders missed, Rosenberg said, was that market crashes don't cause recessions - it's the other way around.
    David Rosenberg had the worst Wall Street new-hire onboarding you could ask...
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