Term: BLACK MONDAY

Monday, 19th October 1987 when the New York Stock Exchange fell by almost 23% in a single trading day. On the JSE, the fall happened the next day, 20th October 1987. black Monday saw the largest single day fall in the history of Wall Street. The term “black Monday” also sometimes refers to 28th October 1929 when Wall Street fell about 9% in a single trading day. The existence of black Mondays has led investors to be wary of October month because a disproportionate number of stock market crashes have begun in October.

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