The title given to one of the most notorious days in recent financial history. On October 19, 1987, the Dow Jones Industrial Average (DJIA) lost almost 22% in a single day. That event marked the beginning of a global stock market decline. By the end of the month, most of the major exchanges had dropped more than 20%.
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Interestingly enough, the cause of the massive drop cannot be attributed to any single news event because no major news event was released on the weekend preceding the crash. While there are many theories that attempt to explain why the crash happened, no consensus argument can explain why Black Monday happened, but most agree that mass panic caused the crash to escalate.
BLACK TUESDAY
October 29, 1929, when the DJIA fell 12% - one of the largest one-day drops in stock market history. More than 16 million shares were traded in a panic selloff.
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By many, Black Tuesday is considered the end of the Roaring '20s and the start of the Great Depression
BLACK WEDNESDAY
The day when the British government was forced to withdraw the pound from the European Exchange Rate Mechanism. The date of the Black Wednesday crash was September 16, 1992, and five years later the UK Treasury estimated that the loss from that day was around £3.14 billion.
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September 16, 1992, is also known as the day that George Soros broke the Bank of England. It has been reported that he made a $1 billion profit that day, which cemented his reputation as one of the greatest forex traders who has ever lived.
BLACK FRIDAY
1. A day of stock market catastrophe. Originally, September 24, 1869, was deemed Black Friday. The crash was sparked by gold speculators, including Jay Gould and James Fist, who attempted to corner the gold market. The attempt failed and the gold market collapsed, causing the stock market to plummet.
2. The day after Thanksgiving in the United States. Retailers generally see an upward spike in sales and consider this to be the start of the holiday shopping season. It's common for retailers to offer special promotions and to open early to draw in customers.
2. The day after Thanksgiving in the United States. Retailers generally see an upward spike in sales and consider this to be the start of the holiday shopping season. It's common for retailers to offer special promotions and to open early to draw in customers.
Investopedia explains.....
The idea behind the term "Black Friday" is that this is the day in which retail stores have enough sales to put them "in the black" - an accounting expression that alludes to the practice of recording losses in red and profits in black.
CORNER A MARKET
To acquire enough shares of a particular security in order to manipulate its price.
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This is why people with significant interest in a particular stock are watched very closely by the Securities and Exchange Commission.
