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October 27 1997 mini-crash - Synopsis | | October 27 1997 mini-crash - Synopsis: Encyclopedia II - October 27 1997 mini-crash - Synopsis | | The crash started overnight in Asia as Hong Kong's Hang Seng Index plummeted 6%. The Japanese Nikkei 225 fell 2% on the day. The massive losses spread to the European markets where London's FTSE 100 Index fell 98.90 points, or just about 2%, to 4,871.30. Frankfurt's DAX index fell sharply as well.
The U.S. markets were widely expected to open lower for the day. The Dow, NASDAQ, and S&P 500 all sank, never going to positive territory. At 2:36 P.M., the Dow smashed through its first trading curb halt when it fell 350 points. Trading ...
See also:October 27 1997 mini-crash, October 27 1997 mini-crash - Synopsis, October 27 1997 mini-crash - By the numbers, October 27 1997 mini-crash - Controversial halts, October 27 1997 mini-crash - Closing time, October 27 1997 mini-crash - October 28, October 27 1997 mini-crash - Massive losses and sharp rebounds | | | October 27 1997 mini-crash, October 27 1997 mini-crash - By the numbers, October 27 1997 mini-crash - Closing time, October 27 1997 mini-crash - Controversial halts, October 27 1997 mini-crash - Massive losses and sharp rebounds, October 27 1997 mini-crash - October 28, October 27 1997 mini-crash - Synopsis, Stock market crash, Asian financial crisis | | |
| | | October 27 1997 mini-crash: Encyclopedia II - October 27 1997 mini-crash - Synopsis
October 27 1997 mini-crash - Synopsis
The crash started overnight in Asia as Hong Kong's Hang Seng Index plummeted 6%. The Japanese Nikkei 225 fell 2% on the day. The massive losses spread to the European markets where London's FTSE 100 Index fell 98.90 points, or just about 2%, to 4,871.30. Frankfurt's DAX index fell sharply as well.
The U.S. markets were widely expected to open lower for the day. The Dow, NASDAQ, and S&P 500 all sank, never going to positive territory. At 2:36 P.M., the Dow smashed through its first trading curb halt when it fell 350 points. Trading was halted for 30 minutes. When trading started again at 3:06 P.M., stocks continued their immense slide eventually pushing the Dow through the NYSE's second trading curb at 550 points and ending trading for the day at 3:35 P.M.
The second halt in trading is usually an hour timeout, but since there was only 25 minutes left in trading for the session the New York Stock Exchange had no choice but to take the controversial action of closing the Exchange early.
Nasdaq trading went on until 4:00 P.M.
Other related archives109-year, 16, 1945, 1987, 1989, 1996, 1997, 2005, 29, 30th, Asia, Asian financial crisis, August 6, Black Monday, DAX, Dow, Dow Jones Industrial Average, European, FTSE 100 Index, Frankfurt, Hang Seng Index, Hong Kong, Japanese, July 16, London, NASDAQ, New York Stock Exchange, Nikkei 225, October 13, October 19, October 20, October 27, October 28, S&P 500, Stock Market Crash of 1929, Stock market crash, correction, stock market crash, trading curb
 Adapted from the Wikipedia article "Synopsis", under the G.N U Free Docmentation License. Please also see http://en.wikipedia.org/wiki |
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