The global stock market crashed on Monday 24 August in one of the lowest plunges in recent years. The crash is reminiscent of the Black Monday plunge of 1987, when the Dow Jones Industrial Average (DJIA) fell 508 points.
Last Monday’s crash saw the DJIA fall over 1,000 points, more than 5 per cent, though the indexes were quick to pare back much of their losses. The day saw stocks fall across Asia as shareholders sold off shares across all sectors.
The Latest (by the New York Times)
■ Stock markets in the United States plunged in early trading but recovered much of their losses by midday.
■ Many investors sought refuge from the upheaval by turning to American and European government bonds.
■ In China, the benchmark Shanghai composite index erased all of the gains it had made this year.
■ In Europe, stocks fell sharply, with the main indexes closing down 5 percent or more.
■ The drops have erased nearly $10 trillion from the global stock market since a peak on June 3.
■ The American and international oil benchmarks have fallen to their lowest point in more than six years.
■ An index that measures market volatility reached levels last seen in 2011 when Americans were worrying about a double-dip recession.
