October 20, 2007 / 12:09 AM / 12 years ago

FACTBOX: Some global details of "Black Monday" 1987

NEW YORK (Reuters) - The eye-popping drop in U.S. stocks on October 19, 1987, grabs most of the attention in recollections of Wall Street’s ‘Black Monday.’

But the 22.6 percent fall in the Dow Jones industrial average .DJI on that day was actually the final stage of four consecutive daily falls of no less than 2.4 percent each, which cumulatively chopped more than 30 percent off the blue-chip average's value.

The broader Standard & Poor's 500 index .SPX slid 28 percent over the same stretch, inclusive of a 20.4 percent plunge on October 19.

Small cap stocks, by comparison, held up relatively well — to that point. They lost just 18.6 percent during the four-day skid, including a comparatively modest 12.5 percent on Black Monday.

However, for small stocks, the rout actually had begun much earlier, on October 6, and did not end on October 19 as it did for large caps. Small caps did not start recovering until October 29, having endured 15 down days in 17 session, losing a whopping 38.5 percent of their value over that run.

Nor was the pain limited to U.S. stocks.

For many other markets, particularly in the Asia-Pacific region, the worst came after Wall Street had already hit bottom, as investors reacted in panic to the massive drop in the world’s biggest equity market.

Here are some details of other global markets in response to Black Monday:

* Stocks globally fell about 20.6 percent over the period from Wednesday, October 14, through Tuesday, October 20, as measured by the MSCI world index, including a 9.8 percent drop on October 19. By comparison, the global stock gauge’s next biggest one-day drop, dating back to 1976, is 5.1 percent on August 19, 1991, the day Mikhail Gorbachev was ousted as president of the Soviet Union in a coup.

* London’s FTSE 100 lost 10.8 percent on October 19 and another 12 percent the next day.

* Germany’s DAX 30 fell 9.4 percent on October 19 and 1.4 percent on October 20.

* France’s CAC 40 index fell 9.4 percent on October 19 and 0.14 percent on October 20.

* Tokyo shares fell 2.4 percent on October 19, ahead of Wall Street’s crash, then 14.9 percent on Tuesday, October 20.

* Hong Kong stocks fell 11.1 percent on October 19, then the market closed for four days in an attempt to settle investors’ nerves. The market reopened Monday, October 26, falling 33.3 percent.

* Canada’s main index fell 11.1 percent on October 19 and 6.9 percent on October 20.

* Australia’s ASX All-Ordinaries index dropped 3.7 percent on October 19 and 25 percent on October 20.

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