The Most Devastating Stock Market Collapses in History

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5. A Global Stock Market Crash, 1987 (Black Monday)

On October 19, 1987, global stock markets plunged, starting in Hong Kong and spreading across Europe before hitting the U.S. The Dow Jones Industrial Average dropped 508 points to 1,738.74—a massive one-day loss. Experts blame a mix of overvalued stocks, computerized trading, and market panic for the crash. Interestingly, in Australia and New Zealand, the event is known as Black Tuesday due to time zone differences.