Black Monday often refers to Oct. 28, 1929, when stocks fell by 12.8%. The next day became known as Black Tuesday when stocks dropped by another 12% on Oct. 29, 1929. Previously, on Oct. 24, Black Thursday, stocks had declined by 10% before rebounding within the same day, signaling trouble. Numerous causes for the crash are often cited, and the topic is still debated by historians and economists. Some of the causes often discussed are excessive margin trading, rising debt throughout the economy, a bubble of overpriced stocks without the fundamentals to support their prices, and errors in the Federal Reserve's monetary policy.<\/span><\/span><\/span><\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "Did People Lose Money on Black Monday?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Yes. Black Monday caused about $500 billion in losses when the Dow Jones Industrial Index fell 508 points. In percentage terms, it is the biggest-ever one-day stock-market loss.<\/span><\/p>"
}
}
,
{
"@type": "Question",
"name": "Why Is It called Black Monday?",
"acceptedAnswer": {
"@type": "Answer",
"text": " Black Monday refers not only to the events on Oct. 19, 1987, but also to a number of specific Mondays when sudden, severe, and turbulent events have occurred, from military battles to massacres and stock market crashes. The term seems to have been coined by U.S. Representative John Bell Williams on the floor of Congress in Washington, D.C. on Monday, 17 May 1954. This was the date of the Supreme Court's decision in Brown v. Board of Education<\/em>, in which the Court ruled that U.S. state laws establishing racial segregation in public schools were unconstitutional. In opposition to the decision, white citizens' councils were formally organized throughout the South to preserve segregation and defend segregated schools.<\/span><\/p>"
}
}
]
} ] }
]