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Watching for the Next Black Monday

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Watching for the Next Black Monday

Business

Watching for the Next Black Monday

Watching for the Next Black Monday

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On Oct. 19, 1987, the stock market fell by almost 23 percent in one day, the biggest drop ever.

"People were coming out for their smoking breaks, and they looked shell-shocked," reported an NPR correspondent on the scened that day. "They were using words like hysteria, panic, to describe what was going on inside."

Today, with the Dow Jones over 14,000, investors say that things are going swimmingly and that this bubble will never burst — or will it?

Mike Santoli, an associate editor at Barron's Weekly, looks back at a bad day on Wall Street, then peers into the crystal ball.