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Finance Dictionary and Glossary of Investment Terms
Refers to October 19, 1987, when the Dow Jones Industrial Average fell 508 points on the heels of sharp drops the previous week. On Monday, October 27, 1997, the Dow dropped 554 points. While the point drop set a new record, the percentage decline was substantially less than in 1987.
The most notorious day in financial history (October 19, 1987). The DJIA fell 508 points, almost 22%.
October 19, 1987, the day on which the DJIA fell 508 points (22%).