October 23, 1987: It's Over

With new meaning to the phrase TGIF, the market opens flat and the Dow trades in a relatively narrow range. Volume moves closer to pre-crash levels. The blue-chip index ends the day a quarter of a point higher. The loss for the week is 13%.

Nightly News 10-23-87 (1)
Nightly News 10-23-87 (1)   

Tom Brokaw wraps up the "week of superlatives" where the market sees its biggest drop and biggest gain. The economic news of the week helps steady things: GDP is relatively strong and consumer prices seems to signal that inflation is in check. Despite ending on a somewhat even keel, the market will still be subject to wobbles, the experts warn. That gives new urgency to discussions about curing the twin deficits ... the budget shortfall and the trade gap.

(Part 1) [06:34]

But after all the number crunching, the market crash does have a human side. Exhausted brokers limp out of the week wondering what had happened to them. Older brokers chide their younger colleagues for their lack of experience and the newly named "yuppies" wonder if they made the right career choice.

(Part 2) [02:30]