Copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. 2 : of sudden origin and short duration a flash fire. October 27th is National Cutie Day where you tell someone they’ re adorable. [86], One of the consequences of the 1987 crash was the introduction of the circuit breaker or trading curb, allowing exchanges to temporarily halt trading in instances of exceptionally large price declines in some indexes. It took two years for the Dow to recover completely and by September 1989, the market had regained all of the value it had lost in the 1987 crash. [87] These trading curbs were used multiple times during the 2020 stock market crash. [6][clarification needed], The degree to which the stock market crashes spread to the wider economy (the "real economy") was directly related to the monetary policy each nation pursued in response. Why Do “Left” And “Right” Mean Liberal And Conservative? On the morning of Wednesday, October 14, 1987, the United States House Committee on Ways and Means introduced a tax bill that would reduce the tax benefits associated with financing mergers and leveraged buyouts. flash 1. verb, slang To expose one's nudity indecently. Significant selling created steep price declines throughout the day, particularly during the last 90 minutes of trading. Wet continued on in all kinds of drinking-related expressions from the 19th century on.A deal made over drinks, for example, was a wet bargain, and by the mid-1800s, a drunken night out was a wet night.By 1870, a place that sold alcohol was described as wet, as in a wet county.. Ashdown has been a wet county for almost a year. [14] Moreover, some large mutual fund groups had procedures that enabled customers to easily redeem their shares during the weekend at the same prices that existed at the close of market on Friday. happening suddenly and usually lasting a short time: caused by or used as protection against flash from an explosive device: of or relating to followers of boxing, racing, etc. Because of its reliance on a "market making" system that allowed market makers to withdraw from trading, liquidity in NASDAQ stocks dried up. Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012. [24], When the futures market opened while the stock market was closed, it created a pricing imbalance: the listed price of those stocks which opened late had no chance to change from their closing price of the day before. [77] An example of the latter occurred when the ministry invited representatives of the four largest securities firms to tea in the early afternoon of the day of the crash. Moreover, these firms had been using property as collateral for their increased borrowing. [51] At least initially, there was a very real risk that these institutions could fail. Name days are celebrated in many European countries. [37] Markets around the world that did not have portfolio insurance trading experienced as much turmoil and loss as the U.S. The Dictionary of the Scots Language; The Double-Tongued Dictionary; The UCLA Linguistics Lab; The York University Flash-Enabled International Phonetic Alphabet Chart; Urban Dictionary; Vintage Vocabulary; Word Spy; Wordnik; Wordstuck; World Wide Words; Categories Finally, some traders anticipated these pressures and tried to get ahead of the market by selling early and aggressively Monday, before the anticipated price drop. Index arbitrage, a form of program trading,[27] added to the confusion and the downward pressure on prices:[17], ...reflecting the natural linkages among markets, the selling pressure washed across to the stock market, both through index arbitrage and direct portfolio insurance stock sales. [21], Under normal circumstances the stock market and those of its main derivatives–futures and options–are functionally a single market, given that the price of any particular stock is closely connected to the prices of its counterpart in both the futures and options market. After they re-opened, the speed of the crash accelerated, partially attributed by some to the storm closure. [14], Before the New York Stock Exchange (NYSE) opened on Black Monday, October 19, 1987, there was pent-up pressure to sell stocks. to open one's clothes and expose the genitals suddenly, and usually briefly, in public. [74] It was down 23% in two days, roughly the same percentage that the NYSE dropped on the day of the crash. When measured in United States dollars, … [22] Prices in the derivative markets are typically tightly connected to those of the underlying stock, though they differ somewhat (as for example, prices of futures are typically higher than that of their particular cash stock). [57], The Black Monday decline was, and currently remains, the biggest drop on the List of largest daily changes in the Dow Jones Industrial Average. The flash from that very first line of cocaine hooked me in an instant. to coat (plain glass or a glass or ceramic object) with a layer of colored, opalescent, or white glass. [4] In both places, according to economist Ulrike Schaede, the initial market break was severe: the Tokyo market declined 14.9% in one day, and Japan's losses of US$421 billion ranked next to New York's $500 billion, out of a worldwide total loss of $1.7 trillion. “Hey guess what day it is!”. [3] Worldwide losses were estimated at US$1.71 trillion. Foreign investors participated, attracted by New Zealand's relatively high interest rates. bright artificial light thrown briefly upon a subject during an exposure. • OCTOBER 24 (noun) The noun OCTOBER 24 has 1 sense:. 1 : the lowest temperature at which vapors above a volatile combustible substance ignite in air when exposed to flame. From late 1984 until Black Monday, commercial property prices and commercial construction rose sharply, while share prices in the stock market tripled. Information and translations of October 24 in the most comprehensive dictionary definitions resource on the web. Meaning of October 24. © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins 710 - Saracen invasion of Sardinia. [68] Although the Fed's holdings expanded appreciably over time, the speed of expansion was not excessive. First recorded in 1350–1400; Middle English, Dictionary.com Unabridged [69] Moreover, the Fed later disposed of these holdings so that its long-term policy goals would not be adversely affected.[61]. to break forth into sudden flame or light, especially transiently or intermittently: to burst suddenly into view or perception: to speak or behave with sudden anger, outrage, or the like (often followed by. [17], On Black Monday, the DJIA fell 508 points (22.6%), accompanied by crashes in the futures exchanges and options markets. When measured in United States dollars, eight markets declined by 20 to 29%, three by 30 to 39% (Malaysia, Mexico and New Zealand), and three by more than 40% (Hong Kong, Australia and Singapore). [81], New Zealand's stock market fell nearly 15% on the first day of the crash. [15] The amount of these redemption requests was far greater than the firms' cash reserves, requiring them to make large sales of shares as soon as the market opened on the following Monday. The average number of shares traded on the New York Stock Exchange rose from 65 million shares to 181 million shares.[9]. [64] Fed sources suggested that the brevity was deliberate, in order to avoid misinterpretations. [58][59]), The Federal Reserve acted as the lender of last resort to counter the crisis. These "locked" conditions severely curtailed trading. #wordsmatter [33], This strategy became a source of downward pressure when portfolio insurers whose computer models noted that stocks opened lower and continued their steep price. c : of, relating to, or characteristic of persons considered social outcasts flash language. superficial, meretricious, or vulgar showiness; ostentatious display. Deregulation in particular suddenly gave financial institutions considerably more freedom to lend, though they had little experience in doing so.
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