The Silver Anniversary of a Black Day
Today is October 19, the 25th anniversary of Black Monday, the day in 1987 when the Dow fell by more than 22%, still the largest one-day percentage drop in the history of the index. The chart below, showing the level of the Dow throughout 1987, vividly illustrates this dramatic event.
Of course, you know we’re not going to leave the story there. It’s also worth putting that scary moment into a larger context. The chart below shows the level of the Dow from October 1987 to the present, a period during which the index rose by nearly 700%. Of course, not without a few more bumps along the way, as one can readily see.
So, happy anniversary Black Monday, we hope never to see your like again!