Today (19th October 2017) is the thirtieth anniversary of “Black Monday” – the day on which the Dow Jones industrial index fell 23% in a single day – its single largest one-day fall in history. This massive fall dwarfed even the previous Black Monday which was 28th October 1929 – which signalled the start of the Great Depression. On that day the Dow only fell by a measly 9%.
There was also a Black Monday on 24th August 2015 when the Dow fell by 6,6%. This was the fifth down-day of a six-day fall which saw the Dow fall by a total of 10,7%. These periodic events, occurring as they have late in October month, have made investors wary – and some will sell out of their positions completely every October just on the off-chance. Read More