from24/7 Wall St.
2 days agoMarket Collapsed 23% 38 Years Ago, Would Be 11,000 Points Today
I watched it happen. On October 19, 1987, the Dow Jones Industrial Average tumbled 508 points, which was 22.6%. It fell from 2,246.74 at the open to 1,738.74 at the close on the day known as Black Monday. Such a drop would be just shy of 11,000 points today. The market was actually worse than that when taken over two days. The Dow had dropped almost 5% the Friday before. The anxiety over the weekend between the two was terrific.
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