João Leão: Economia precisa de imigrantes (e não só dos qualificados)

[Scubawarrior]

On Monday, October 19, 1987, the Dow Jones Industrial Average fell 508.32 and closed at a record-breaking low of 1,738.40 points. This date, now known to the world as Black Monday is documented as the worst stock market crash in history. The 22.9% loss in 1987 almost doubles the percentage lost in the Crash of 1929, which was 12.82%. Many stock market analysts believe that the crash was set off by a number of events, that include the poor choices of portfolio insurance professionals and program trading.

More than one factor affected the Stock Market Crash of 1987. Economists agree that there are many reasons for the 508 point loss on October 19,1987, but not one can name a single event that ushered in the fated Black Monday. In the summer of 1987 the yield of a 30-year U.S. bond increased to almost 10 percent. Because of this investors began to shift from investing in stocks to putting their money into bonds which yielded more money.



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