From time to time, stocks have paused to show displays of the euphoric heights and profound depths. This is where we go through the biggest 10 stock market crashes that left their trails in the annals of financial history.
The Great Depression (1929): The economic turmoil of 1929 is inseparably linked to the Great Depression. The triggered downturn of the bubble caused a crash in the DJIAIndustrial Average, which in turn resulted in the loss of a considerable share of wealth.
Black Monday (1987): October 19, 1987 saw global stock markets plunge unexpectedly and very violently. The Dow Jones plunged 22% on that day, much bigger than the largest single day percentage drop that we have seen.
Dot-Com Bubble Burst (2000): The collapse of the internet-based companies in the beginning of the new millennium caused the banking market to decline heavily which was a turning point. The NASDAQ Composite Index had large losses when tech stocks were trading at inflated prices were falling.
Financial Crisis (2008): The 2008 financial crisis sparked by subprime mortgage blast, spread havoc all across the markets of the world. After Lehman Brothers’ bankruptcy and subsequent bank failures, a sharp contraction followed.
Asian Financial Crisis (1997): Launched by currency devaluations in Asian economies the crisis has resulted in a vast volatility within the financial sector. The Asian stock markets witnessed major drops, and the impact spread beyond the region.
Oil Crisis (1973-1974): The oil embargo of 1973 by OPEC resulted in a global economic crisis resulting into a major stock market meltdown. Fall of 1929, S&P 500 index in the United States sharply dropped signifying an economic crisis.
Long-Term Capital Management (1998): The fall of the hedge fund Long-Term Capital Management had an airwave impact within the whole financial sector. The next day major financial institutions bailout the crisis prevented a broader but showed systemic risks were visible.
