Black Monday: What happened in 1987 that came to mind again…?
The announcement of tariffs by US President donald trump has created an economic uproar in the whole world. Due to the global trade war, the clouds of economic crisis have started looming over the whole world. There is panic in the stock markets from America to China, hong kong to taiwan and india at this time. Experts have warned that Black monday can come again. On monday, 19 lakh crore rupees were lost in just 5 minutes in the indian market. While the condition of the entire global market was also the same. That is, it can be said that to a large extent the fears of the experts have proved true.
In such a situation, the question arises that what is Black monday, why is it trending at this time and how about 11 thousand banks were closed in one stroke, which has once again been reminded of that tragedy by Donald Trump's tariff attack.
What happened on Black Monday?
The earthquake in the stock market on 19 october 1987 was called Black monday when the biggest devastation happened in the US stock market on Monday. Its effect was seen all over the world, which the stock market has not forgotten even today.
America's Dow Jones Industrial Average fell by 22.6 percent on 19 october 1987, which was the biggest fall in a day. After this chaos in the US market, the Dow Jones fell 508 points to close at 1738.74. After this big incident, there was record selling in global markets from hong kong to Lake australia and Europe. Investors got very scared and sold their stocks. Due to this attitude of investors, there was a lot of instability in the market.
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