Twenty Years Ago Today

On Monday, October 19, the Dow dropped 508 points, or 22.6%, in its worst crash in history.
Of course, stocks came right back and the economy continued to plow ahead but that wasn’t clear at the time.
Here’s the cover of the New York Times for the following day.
(Doncha just love how the NYT asks “Who Gets Hurts?”)
Here’s their lead article
Here’s how the Washington Post covered the news.
I also noticed this article on local reactions. What caught my eye is that at the very end. Malcolm Gladwell’s name is listed.
What’s interesting is that the articles from two of the most important newspapers in the world don’t mention either the Alan Greenspan or the Nasdaq. It’s hard to imagine a world like that, but the Fed wasn’t considered that important not too long ago. Also, the Nasdaq was a small exchange that wasn’t widely followed.
How things have changed.

Posted by Eddy Elfenbein on October 19th, 2007 at 10:21 am

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