"Black Monday, October 19, 1987
, day on which stock market prices in the United States
fell precipitously, accelerating steep losses in stock markets
around the world. By the end of the day the Dow-Jones Industrial Average
had fallen more than 500 points. Economic observers
blamed the crash on the lack of international trade leadership by the federal government, weaknesses in the U.S. economy, and computerized trading on Wall Street
. The crisis eased
during the week following Black Monday."
For perspective, the NYSE
was floating around at 2000 points. I remember it breaking
3000 some time during the early ninties. Today the market closed at 10963.80.
So in order for something similar
to occur, we would be talking a drop of around 2500-3000 points