Black Monday Posts Break Records

Today marks the anniversary of the Black Monday event that occurred in 1987. On October 19, the U.S. stock markets experienced one of the largest declines in history. The downturn was not limited to the U.S., as significant losses were also seen in Europe and the Far East. Following last week's technology sell-off, investors spent the weekend in fear. According to Santiment, posts related to Black Monday have reached a record high recently. On Sunday, October 18, the term 'Black Monday' was used 176 times on social media. In the previous 60 days, the average daily usage of this term was less than 2. Posts related to the market crash also totaled 105 on Sunday. As the U.S. futures markets opened around 2 AM UTC, fear and crash-related posts began to increase. However, Bitcoin and financial markets started the new week somewhat strong. Over the weekend, Bitcoin generally remained below $82,000, but it surpassed $83,000 in the morning, trading around $82,500. Increased volatility is expected with the opening of the U.S. markets at 16:30 UTC. On October 19, 1987, the S&P 500 fell by over 20%, the Dow Jones by over 22%, and the Nasdaq by over 11%.

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