Dating myself here I just out of high school and I remember that day, as well as the 1987 crash. This was October 13 1989. What struck me and what I did not remember is this happened off all time highs. The following is from Wikipedia. The Friday the 13th mini-crash refers to the stock market crash that occurred on Friday, October 13, 1989. The crash was apparently caused by a reaction to a news story of the breakdown of a $6.75 billion leveraged buyout deal for UAL Corporation, the parent company of United Airlines. When the UAL deal fell through, it helped trigger the collapse of the junk bond market. The UAL deal unraveled because the Association of Flight Attendants pulled out of the deal when management, in negotiations over an Employee Stock Ownership Plan (ESOP) designed to fund the leveraged buyout, refused to agree to terms equivalent to those negotiated with other labor groups. Moments after the UAL deal fell through, the indices began their plunge. By the time the closing bell rang, the Dow Jones Industrial Average was down 190.58 points, or 6.91 percent, to 2,569.26. The NASDAQ Composite shed 14.90 points, or 3.09 percent, to 467.30, and the S&P 500 Index fell 21.74 points, or 6.12 percent, to 333.65. The Dow Jones Transportation Average fell 78.05 (5.26%) on the 13th, and fell another 102.04 (7.26%) on the 16th for a total decline of 12.13%. The major indices had closed at all-time highs as recently as Monday, October 9.
in older days, market crashes used to happen due to news, these days market crashes happen due to technical glitch. Where have we come!
Or technical news glitch like April 23 fake AP tweet about White House bombing and injured or dead president.