S&P 500 · October 16, 1989
The Monday after Friday the 13th
+2.76%
single-day change vs previous close
What happened that day?
- On 16 October 1989 the S&P 500 rose 2.76%
- The previous Friday was the 13th, and the market's plunge that day is still known by the date
- The trigger had been an airline buyout that fell apart when its financing did
- This was the era of buying companies with borrowed money. When the money stopped, the whole market shook
- On this Monday the Fed signalled it would supply cash freely, and the market turned
- Unlike Black Monday in 1987, the shock did not last
- From the peak the index had been down 10.23% before recovering
Sources
Every figure on this page is recomputed from the original daily closing prices and checked against them at build time. The account of what happened is written from the sources listed above.