What a Coincidence!

Today, October 19, 2006, the Dow Jones Industrial Average closed above 12000 points for the first time in its history. But do you know what happened on the same day in 1987?

On October 19, 1987, also known as Black Monday, the Dow fell 508.32 and closed at a record-breaking low of 1,738.40 points and that was good for 22.6% of its value or $500 billion dollars. And stock markets around the world witnessed similar decline. By the end of October, Hong Kong had fallen 45.8%, Australia 41.8%, the United Kingdom 26.4%, the United States 22.6%, and Canada 22.5%.

1738 points then, 12000 points now.

What a difference nineteen years have made!

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