Black Tuesday
Tuesday, 20th October 1987
The Singapore's Straits Time Index plunged 25 percent in a day. It was triggered by the "Black Monday" in the United States , the popular name for Monday, October 19, 1987, the most spectacular of global stock market crashes to date. The significance of Black Monday, when the Dow Jones fell by 22.6 percent. It triggered a global event, starting in Hong Kong by the end of the month markets had declined by 45 percent in Hong Kong. The most interesting thing about Black Monday, however, is that it was not predicted, and has yet to be explained satisfactorily. Not that there is any shortage of suggested causes. Some attribute the crash to automated programme trading, derivative trades, and portfolio insurance, others to recession fears, others still to overvaluation of stocks.