Black Monday (1987)

In finance, Black Monday refers to Monday, October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time. The crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin. The Dow Jones Industrial Average (DJIA) fell exactly 508 points to 1,738.74 (22.61%). In Australia and New Zealand, the 1987 crash is also referred to as "Black Tuesday" because of the time zone difference.

The terms Black Monday and Black Tuesday are also respectively applied to October 28 and October 29, 1929, which occurred after Black Thursday on October 24, which started the Stock Market Crash of 1929.

Timeline

In late 1985 and early 1986, the United States economy began shifting from a rapidly growing recovery from the early 1980s recession to a slower growing expansion, which resulted in a brief "soft landing" period as the economy slowed and inflation dropped. The stock market advanced significantly, with the Dow peaking in August 1987 at 2,722 points, or 44% over the previous year's closing of 1,895 points. Further financial uncertainty may have resulted from the collapse of OPEC in early 1986, which led to crude oil price decreasing by more than 50% by mid-1986.

2015–16 Chinese stock market crash

The Chinese stock market crash began with the popping of the stock market bubble on 12 June 2015. A third of the value of A-shares on the Shanghai Stock Exchange was lost within one month of the event. Major aftershocks occurred around 27 July and 24 August's "Black Monday." By 8–9 July 2015, the Shanghai stock market had fallen 30 percent over three weeks as 1,400 companies, or more than half listed, filed for a trading halt in an attempt to prevent further losses. Values of Chinese stock markets continued to drop despite efforts by the government to reduce the fall. After three stable weeks the Shanghai index fell again on the 24th of August by 8.48 percent, marking the largest fall since 2007.

At the October 2015 International Monetary Fund (IMF) annual meeting of "finance ministers and central bankers from the Washington-based lender’s 188 member-countries" held in Peru, China's slump dominated discussions with participants asking if "China’s economic downturn [would] trigger a new financial crisis."

Black Monday

Black Monday is a term used to refer to certain Mondays when undesirable or turbulent events have occurred. It has been used in the following cases:

Historic events

Black Monday (Malta)

Black Monday in Malta refers to 15 October 1979 when the Progress Press (publisher of The Times) and the home of Eddie Fenech Adami, then Leader of the Opposition, were ransacked following a rally by the Labour Party.

Background

A spontaneous political rally was held by Labour supporters following an attempt on Prime Minister Dom Mintoff's life in his offices at the Auberge de Castille, Valletta.

Events

That evening a large crowd gathered outside the Prime Minister's office in an expression of solidarity and from there marched toward the Progress Press offices on St. Paul Street, Valletta. The building was ransacked and set on fire. Many historical archives were burnt during the fire. Although the printing press was destroyed, The Times was still published as usual the following day (though in a reduced format) from the printing press of the Nationalist Party. The newspaper holds the record of never having missed an issue from its founding day.

Also on this day, believing that their political rivals, the Nationalist Party, had some responsibility for the alleged attempt on the prime minister's life, Malta Labour Party supporters invaded the private residence of Dr. Edward Fenech Adami, leader of the Nationalist Party, ransacking his home and assaulting his wife, Mary, his five children and his elderly mother.