As Art Cashin points out in his note about the stock market crash of 1987, dark clouds started forming over Wall Street a few days before the Dow took a swan dive — A 508 point swan dive to be precise.
That was 25 years ago today.
There’s a timeline of these events below. Especially notice the commerce on trade deficit report, which prompted a currency spat between our Treasury and Germany’s. The 1:09 “News report of the SEC Charmain’s comments” refers to the Chairman saying that trading in certain stocks may be halted (as you can see the dive gets significantly worse after that).
And then trading is ultimately suspended the next day…