Market faces the third of its type Monday-phobia.
In 1929, the first stock market crash was felt in last week of October. Though the prior signal was made by 24th October , Black Monday (October 28) proved to be the antagonist of the wall street.Black Tuesday followed. The crash signaled the beginning of the 10-year Great Depression.
In 1929, the first stock market crash was felt in last week of October. Though the prior signal was made by 24th October , Black Monday (October 28) proved to be the antagonist of the wall street.Black Tuesday followed. The crash signaled the beginning of the 10-year Great Depression.
In 1987, DJIA dropped by 22 % over the day and so did markets of Hong kong,Europe, US. Black Tuesday followed in Australia and New Zealand. Program trading was one of the lead cause.
Today's Black Monday certainly establishes our faith in market's Monday-phobia.
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