Why did 1987 crash?
Black Monday, Oct. Dow Jones and other major indexes plunge in a single day, erasing a year of gains in hours. The crash had no single fundamental trigger; instead, program trading, portfolio-insurance strategies, and investor panic amplified selling across global markets. On Oct. The next day, the New York Daily News’ front page screamed Panic! New York Times headline asked: Does 1987 equal 1929? Turns out, the 1987 plunge was a mere stutter step.