The 1987 Stock Market Crash
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The paper reveals that although many people thought the 1987 stock market crash would have a lasting, detrimental effect upon the American economy and financial markets, the crash was only a temporary event that shook up the economy and in fact caused many improvements. The paper discusses how as a result of this stock market crash, companies changed their investment strategies, stockholders changed their attitudes, and the government made many improvements in our financial markets to reduce the chance of another stock market crash occurring.
From the Paper:" After the cataclysmic events caused by the Stock Market crash of 1987, there was widespread confusion and paranoia among the financial markets of the United States, and most of the world. What had occurred on October 19 would never be forgotten. "Black Monday", as it was called, was the day that a staggering 508 point drop occurred in the Dow Jones Industrial average (Wilhelm, "Five" 13). As the Dow plummeted 22.6 percent on October 19 and 30.7 percent in six days, shock waves rolled around the world, eradicating an estimated $1 trillion in wealth (Wilhelm, "Five" 14). Though many people saw it as a harbinger of epochal change, the stock market crash of 1987 led neither to epidemic bank failures nor to a recession in the economy (Forbes 39). The stock market crash of 1987 did not change the world, but it did change the world's stock markets for the better."
Sample of Sources Used:
- Forbes, Steve. "Real Issue: October Stock Market Crash." Forbes 27 June 1988: 39-42.
- Thompson, Terri. "Crash-proofing the Market." U.S. News & World Report 6 June 1989: 66-68.
- Waldrop, Judith. "Stock Answers." American Demographics February 1989: 11-15.
- Wilhelm, Steve. "Five Years Later Black Monday Not So Gloomy." Puget Sound Business Journal 13 (1992): 13-20.
- Worthy, Ford. "What We Learned From the '87 Crash." Fortune 5 Oct. 1992: 98-104.
Cite this Persuasive Essay:
The 1987 Stock Market Crash (2010, June 07) Retrieved July 05, 2022, from https://www.academon.com/persuasive-essay/the-1987-stock-market-crash-120242/
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