Black Monday

(noun)

In finance, the date of October 19, 1987, when stock markets around the world crashed, shedding a huge value in a very short time; the crash began in Hong Kong and spread west to Europe, hitting the United States after other markets had already declined by a significant margin; the Dow Jones Industrial Average (DJIA) dropped by 508 points to 1738.74 (22.61%).

Related Terms

Examples of Black Monday in the following topics:

  • The Recession

    • On Black Monday of October 1987, a stock collapse of unprecedented size caused the Dow Jones Industrial Average to fall by 22.6%.

  • Wall Street Crash of 1929

    • However, the one-day crash of Black Monday, October 19, 1987, when the Dow Jones Industrial Average fell 22.6%, was worse in percentage terms than any single day of the 1929 crash.

  • The Great Depression

    • On October 24, 1929, also known as Black Thursday, the value of common stock and shares in the U.S. market dropped by 40% and a massive, debilitating economic downward spiral was set in motion.
    • The high-speed wind storms that helped destroy the farmlands reportedly reached up to 60 miles per hour on April 14, 1935, also known as Black Sunday.
    • Yet the one-day crash of October 19, 1987, known as Black Monday, when the Dow Jones Industrial Average fell 22.6%, was worse in percentage terms than any single day of the 1929 crash.

  • Montgomery and Protests

    • On Thursday, December 1, 1955, Parks was sitting in the frontmost row for black people on the bus.
    • We are, therefore, asking every Negro to stay off the buses Monday in protest of the arrest and trial.
    • Don't ride the buses to work, to town, to school, or anywhere on Monday.
    • But please, children and grown-ups, don't ride the bus at all on Monday.
    • Please stay off all buses Monday.

  • Technological Advancement

    • The television industry's National Television System Committee(NTSC) developed a color television system based on RCA technology that was compatible with existing black and white receivers, and commercial color broadcasts reappeared in 1953.
    • Emmy-winning comedy (1951–1960) I Love Lucy starred husband and wife Desi Arnaz and Lucille Ball and enjoyed such popularity that some businesses closed early on Monday nights in order to allow employees to hurry home for the show.

  • Black Power

    • Black Power emphasized racial pride, the creation of political and social institutions against oppression, and advancement of black collective interests.
    • "Black Power" is a term used to refer to various ideologies associated with African Americans in the United States, emphasizing racial pride and the creation of black political and cultural institutions to nurture and promote black collective interests and advance black values.
    • Black Power meant a variety of things.
    • Martin Luther King, Jr. was not comfortable with the "Black Power" slogan, which sounded too much like black nationalism to him.
    • The 1960s composed a decade not only of Black Power but also of Black Pride.

  • Mobilizing a Nation

    • The War Department drafted hundreds of thousands of African-American men into the army with equal pay, but placed them in segregated units with black soldiers led by white officers.
    • Largely kept out of combat, a group of black service members protested directly to Wilson but were met by his response, “Segregation is not a humiliation but a benefit, and ought to be so regarded by you gentlemen.”
    • Apart from "Wheatless Wednesdays" and "Meatless Tuesdays" due to poor harvests in 1916 and 1917, there were "Fuelless Mondays" and "Gasless Sundays" to preserve coal and gasoline.

  • Free Blacks in the South

    • Free blacks were an important demographic in the United States, though their rights were often curtailed.
    • Free blacks in America were first documented in 1662 in Northampton County, Virginia.
    • By 1860, on the eve of the American Civil War, the nationwide percentage of free blacks remained at 10 percent, but included 45.7 percent of blacks in Maryland, as well as a whopping 91 percent of blacks in Delaware.
    • In some Northern cities, blacks were even able to vote.
    • Blacks were also outspoken in print, as Freedom's Journal, the first black-owned newspaper, surfaced in 1827.

  • Conclusion: The Effects of Reconstruction

    • The conditions of black Americans would not improve until the civil rights era of the 1950s and 60s.
    • Despite these failures, important landmarks in civil rights for black Americans were reached at that time.
    • The "Reconstruction Amendments" passed by Congress between 1865 and 1870 abolished slavery, gave black Americans equal protection under the law, and granted suffrage to black men.
    • Reconstruction was never forgotten among the black community and remained a source of inspiration.
    • The system of sharecropping allowed blacks a considerable amount of freedom as compared to slavery.

  • African American Migration

    • The Exodus of 1879 was the first general migration of blacks following the Civil War.
    • It was the first general migration of blacks following the Civil War.
    • Many blacks left the South with the belief that they were receiving free passage to Kansas only to be stranded in St.
    • Black churches in St.
    • The Kansas Fever Exodus refers specifically to six thousand blacks who moved from Mississippi, Louisiana, and Texas to Kansas.