The first global financial crisis erupted in the autumn of 1987 on a day known as “Black Monday.” A chain reaction of market distress sent stock exchanges around the world plummeting in a matter of hours. In the United States, the Dow Jones Industrial Average dropped 22.6 percent in a single trading session, a loss that remains the largest one-day stock market decline in history.  At the time, it marked the sharpest market downturn in the United States since the Great Depression.In today's video we look at the causes of the 1987 crash, discuss program trading and portfolio insurance and how the crash forever changes stock markets around the world.Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvCPatreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube ChannelDavid C Barnett Small Business and Deal Making M&A SMBI discuss buying, selling, financing and managing small and medium sized businesses...Listen on: Apple Podcasts   Spotify Support the show