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1987 Black Monday
1media/Screen Shot 2023-03-22 at 1.23.14 PM_thumb.png2023-03-22T20:24:12+00:00Gina Leonf0ac362b4453e23ee8a94b1a49fbeeafde2a0a4912A stock broker with his face in his palms at the New York Stock Exchange after the events of Black Monday, October 19, 1987. Before the New York Stock Exchange (NYSE) opened on Black Monday, October 19, 1987, there was pent-up pressure to sell stocks. When the market opened, a large imbalance immediately arose between the volume of sell orders and buy orders, placing considerable downward pressure on stock prices. Regulations at the time permitted designated market makers (also known as "specialists") to delay or suspend trading in a stock if the order imbalance exceeded that specialist's ability to fulfill orders in an orderly manner. The order imbalance on October 19 was so large that 95 stocks on the S&P 500 Index (S&P) opened late, as also did 11 of the 30 DJIA stocks. Importantly, however, the futures market opened on time across the board, with heavy selling.plain2023-03-22T20:24:20+00:001987Gina Leonf0ac362b4453e23ee8a94b1a49fbeeafde2a0a49