  in finance, black monday refers to monday, 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%). in australia and new zealand the 1987 crash is also referred to as black tuesday because of the timezone difference. the terms black monday and black tuesday are also applied to october 28 and 29, 1929, which occurred after black thursday on october 24, which started the stock market crash of 1929. ==market effects== stock markets raced upward during the first half of 1987, the dow jones industrial average gaining 44% in seven months. beginning on october 14, a number of markets began incurring large daily losses. by the end of october, stock markets in hong kong had fallen 45.5%, australia 41.8%, spain 31%, the united kingdom 26.45%, the united states 22.68%, and canada 22.5%. new zealand's market was hit especially hard, falling about 60% from its 1987 peak, and taking several years to recover. the black monday decline was the largest one-day percentage decline in the dow jones. (saturday, december 12, 1914, is sometimes erroneously cited as the largest one-day percentage decline of the djia.{{cite news|title=dow jones biggest percentage declines|date=2008-09-30| publisher=south florida sun-sentinel|url=http://www.sun
1987_disasters 1987_in_international_relations 1987_in_the_United_States Economic_disasters_in_the_United_States Financial_crises History_of_the_United_States_(1980a91) Monday Stock_market_crashes