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Kitchen Table Kibitzing 10/19/22: Crash [1]

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Date: 2022-10-19

What caused it? It’s still in debate but there are some indicators.

The "Black Monday" stock market crash of Oct. 19, 1987, saw U.S. markets fall more than 20% in a single day.

It is thought that the cause of the crash was precipitated by computer program-driven trading models that followed a portfolio insurance strategy as well as investor panic.

Precursors of the crash also lay in a series of monetary and foreign trade agreements that depreciated the U.S. dollar in order to adjust trade deficits and then attempted to stabilize the dollar at its new lower value.

A reminder that the stock market is a gamble.

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