Name
|
Date
|
Country
|
Causes
|
Ref
|
Tulip mania Bubble
|
1637
|
Dutch Republic
|
A
bubble
(1633?37) in the
Dutch Republic
during which contracts for
bulbs
of
tulips
reached extraordinarily high prices, and suddenly collapsed
|
[1]
|
The Mississippi Bubble
|
1720
|
Kingdom of France
|
Banque Royale
by
John Law
stopped payments of its note in exchange for
specie
and as result caused economic collapse in
France
.
|
|
South Sea Bubble of 1720
|
1720
|
UK
|
Affected early European stock markets, during early days of chartered joint stock companies
|
|
Bengal Bubble of 1769
|
1769
|
UK
|
Primarily caused by the British East India Company, whose shares fell from £276 in December 1768 to £122 in 1784
|
|
Crisis of 1772
|
1772
|
UK
USA
|
|
|
Financial Crisis of 1791?92
|
1791
|
USA
|
Shares of First bank of US boom and bust in Aug and Sept 1791. Groundwork of Alexander Hamilton's cooperation with the Bank of New York to end this event would be crucial in ending the Panic of 1792 next year.
|
|
Panic of 1796?1797
|
1796
|
UK
USA
|
A series of downturns in Atlantic credit markets led to broader commercial downturns in Great Britain and the United States.
|
|
Panic of 1819
|
1819
|
USA
|
|
|
Panic of 1825
|
1825
|
UK
|
|
|
Panic of 1837
|
10 May 1837
|
USA
|
|
|
Panic of 1847
|
1847
|
UK
|
|
|
Panic of 1857
|
1857
|
USA
|
|
|
Panic of 1866
|
1866
|
UK
|
|
|
Black Friday
|
24 Sep 1869
|
USA
|
|
|
Panic of 1873
|
9 May 1873
|
|
Initiated the
Long Depression
in the
United States
and much of Europe
|
|
Paris Bourse crash of 1882
|
19 Jan 1882
|
France
|
|
|
Panic of 1884
|
1884
|
|
|
|
Encilhamento
|
1890
|
Brazil
|
Lasting 3 years, 1890?1893, a
boom and bust
process that
boomed
in late 1880s and
burst
on early 1890s, causing a collapse in the Brazilian economy and aggravating an already unstable political situation.
|
[2]
[3]
[4]
[5]
|
Panic of 1893
|
1893
|
USA
|
|
|
Panic of 1896
|
1896
|
USA
|
|
|
Panic of 1901
|
17 May 1901
|
USA
|
Lasting 3 years, the market was spooked by the assassination of President
William McKinley
in 1901, coupled with a severe drought later the same year.
|
|
Panic of 1907
|
Oct 1907
|
USA
|
Lasting over a year, markets took fright after U.S. President
Theodore Roosevelt
had threatened to rein in the monopolies that flourished in various industrial sectors, notably railways.
|
|
Wall Street Crash of 1929
|
24 Oct 1929
|
USA
|
Lasting over 4 years, the bursting of the speculative bubble in shares led to further selling as people who had borrowed money to buy shares had to cash them in, when their loans were called in. Also called the Great Crash or the Wall Street Crash, leading to the
Great Depression
.
|
|
Recession of 1937?1938
|
1937
|
USA
|
Lasting around a year, this share price fall was triggered by an
economic recession within the Great Depression
and doubts about the effectiveness of
Franklin D. Roosevelt
's
New Deal
policy.
|
|
Kennedy Slide of 1962
|
28 May 1962
|
USA
|
Also known as the 'Flash Crash of 1962'
|
[6]
|
Brazilian Markets Crash of 1971
|
Jul 1971
|
Brazil
|
Lasting through the 1970s and early-1980s, this was the end of a boom that started in 1969, compounded by the
1970s energy crisis
coupled with early 1980s
Latin American debt crisis
.
|
[7]
[8]
[9]
|
1973?1974 stock market crash
|
Jan 1973
|
UK
|
Lasting 23 months, dramatic rise in oil prices, the miners' strike and the downfall of the
Heath
government.
|
|
Souk Al-Manakh stock market crash
|
Aug 1982
|
Kuwait
|
|
|
Black Monday
|
19 Oct 1987
|
USA
|
Infamous stock market crash that represented the greatest one-day percentage decline in U.S. stock market history, culminating in a bear market after a more than 20% plunge in the
S&P 500
and
Dow Jones Industrial Average
. Among the primary causes of the chaos were program trading and illiquidity, both of which fueled the vicious decline for the day as stocks continued lower even as volume grew lighter. Today,
circuit breakers
are in place to prevent a repeat of Black Monday. After a 7% drop, trading would be suspended for 15 minutes, with the same 15 minute suspension kicking in after a 13% drop. However, in the event of a 20% drop, trading would be shut down for the remainder of the day.
|
|
Rio de Janeiro Stock Exchange Crash
|
Jun 1989
|
Brazil
|
Rio de Janeiro Stock Exchange
Crash, due to its weak internal controls and absence of credit discipline, that led to its collapse, and from which it never recovered
|
[10]
[11]
[12]
|
Friday the 13th mini-crash
|
13 Oct 1989
|
USA
|
Failed
leveraged buyout
of
United Airlines
causes crash
|
|
Early 1990s recession
|
Jul 1990
|
USA
|
Iraq invaded Kuwait in August 1990
, causing
oil prices
to
increase
. The
Dow Jones Industrial Average
dropped 18% in three months, from 2,911.63 on July 3 to 2,381.99 on October 16, 1990. This recession lasted approximately 8 months.
|
|
Japanese asset price bubble
|
1991
|
Japan
|
Lasting approximately twenty years, through at least the end of 2011, share and property price bubble bursts and turns into a
long deflationary recession
. Some of the key economic events during the collapse of the Japanese asset price bubble include the
1997 Asian financial crisis
and the
Dot-com bubble
. In addition, more recent economic events, such as the
late-2000s financial crisis
and
August 2011 stock markets fall
have prolonged this period.
|
|
Black Wednesday
|
16 Sep 1992
|
UK
|
The
Conservative
government
was forced to withdraw the
pound sterling
from the
European Exchange Rate Mechanism
(ERM) after they were unable to keep sterling above its agreed lower limit.
|
|
1997 Asian financial crisis
|
2 Jul 1997
|
Thailand
Hong Kong
Philippines
South Korea
Indonesia
|
Investors deserted emerging Asian shares, including an overheated Hong Kong stock market. Crashes occur in
Thailand
,
Indonesia
,
South Korea
,
Philippines
, and elsewhere, reaching a climax in the
October 27, 1997 mini-crash
.
|
|
October 27, 1997, mini-crash
|
27 Oct 1997
|
|
Global
stock market crash
that was caused by an
economic crisis in Asia
.
|
|
1998 Russian financial crisis
|
17 Aug 1998
|
Russia
|
The
Russian
government devalues the
ruble
, defaults on
domestic debt
, and declares a moratorium on payment to
foreign creditors
.
|
|
Dot-com bubble
|
10 Mar 2000
|
USA
|
Collapse of a technology bubble.
|
|
Economic effects of the September 11 attacks
|
11 Sep 2001
|
|
The
September 11 attacks
caused global stock markets to drop sharply. The attacks themselves caused approximately $40 billion in insurance losses, making it one of the largest insured events ever.
|
|
Stock market downturn of 2002
|
9 Oct 2002
|
|
Downturn in stock prices during 2002 in
stock exchanges
across the
United States
,
Canada
,
Asia
, and
Europe
. After recovering from lows reached following the
September 11 attacks
,
indices
slid steadily starting in March 2002, with dramatic declines in July and September leading to lows last reached in 1997 and 1998. See
stock market downturn of 2002
.
|
|
Chinese stock bubble of 2007
|
27 Feb 2007
|
China
|
The
SSE Composite Index
of the
Shanghai Stock Exchange
tumbles 9% from unexpected selloffs, the largest drop in 10 years, triggering major drops in worldwide stock markets.
|
[13]
[14]
[15]
|
United States bear market of 2007?2009
|
11 Oct 2007
|
USA
|
From their peaks in October 2007 until their closing lows in early March 2009, the
Dow Jones Industrial Average
,
Nasdaq Composite
and
S&P 500
all suffered declines of over 50%, marking the worst stock market crash since the
Great Depression era
.
|
[16]
[17]
|
Financial crisis of 2007?2008
|
16 Sep 2008
|
USA
|
On September 16, 2008, failures of large financial institutions in the United States, due primarily to exposure of securities of packaged
subprime loans
and
credit default swaps
issued to insure these loans and their issuers, rapidly devolved into a global crisis resulting in a number of bank failures in Europe and sharp reductions in the value of
equities
(stock) and commodities worldwide. The failure of banks in
Iceland
resulted in a devaluation of the
Icelandic krona
and threatened the government with bankruptcy. Iceland was able to secure an emergency loan from the
IMF
in November. Later on, U.S. President
George W. Bush
signs the
Emergency Economic Stabilization Act
into law, creating a
Troubled Asset Relief Program
(TARP) to purchase failing bank
assets
. Had disastrous effects on the world economy along with world trade.
|
[18]
[19]
|
2009 Dubai debt standstill
|
27 Nov 2009
|
UAE
|
Dubai
requested a debt deferment following its massive renovation and development projects, as well as the
Great Recession
. The announcement caused global
stock markets
to drop.
|
[20]
|
European sovereign debt crisis
|
27 Apr 2010
|
Europe
|
Standard & Poor's
downgraded
Greece
's
sovereign credit
rating to
junk
four days after the activation of a
€
45-billion
EU
?
IMF
bailout, triggering the decline of
stock markets
worldwide and of the
Euro
's value, and furthering a
European sovereign debt crisis
.
|
[21]
[22]
[23]
|
2010 flash crash
|
6 May 2010
|
USA
|
The
Dow Jones Industrial Average
suffered its worst intra-day point loss, dropping nearly 1,000 points before partially recovering.
|
[24]
|
August 2011 stock markets fall
|
1 Aug 2011
|
USA
|
S&P 500
entered a short-lived
bear market
between 2 May 2011 (intraday high: 1,370.58) and 4 October 2011 (intraday low: 1,074.77), a decline of 21.58%. The stock market rebounded thereafter and ended the year flat.
|
[25]
[26]
[27]
|
2015?16 Chinese stock market crash
|
12 Jun 2015
|
China
|
The
Chinese stock market
crashed in June and continued falling in July and August. In January 2016, the market also experienced a steep sell-off which set off a global rout.
|
[28]
[29]
[30]
[31]
[32]
[33]
|
2015?2016 stock market selloff
|
18 Aug 2015
|
USA
|
The
Dow Jones
fell 588 points during a two-day period, 1,300 points from August 18?21. On Monday, August 24, world stock markets were down substantially, wiping out all gains made in 2015, with interlinked drops in commodities such as oil, which
hit a six-year price low
, copper, and most Asian currencies - with exception of the
Japanese yen
- losing value against the
United States dollar
. With this plunge, an estimated ten trillion dollars had been wiped off the books on global markets since June 3.
|
[34]
[35]
[36]
|
2018 cryptocurrency crash
|
20 Sep 2018
|
|
The
S&P 500 index
peaked at 2,930 on its September 20 close and dropped 19.73% to 2,351 by Christmas Eve.
Bitcoin
price peaked on 17 Dec '17, then fell 45% on 22nd Dec '17. The
DJIA
falls 18.78% during roughly the same period.
Shanghai Composite
dropped to a four-year low, escalating their economic downturn since the 2015 recession.
|
[37]
[38]
|
2020 stock market crash
|
24 Feb 2020
|
|
The
S&P 500 index
dropped 34%, 1145 points, at its peak of 3386 on February 19 to 2237 on March 23. This crash was part of a worldwide recession caused by the
COVID-19 lockdowns
.
|
[39]
[40]
[41]
|
2022 stock market decline
|
3 Jan 2022
|
|
The
S&P 500 index
peaked at 4,796 on its January 3 close and dropped 27.55% to 3,498 by October 2022. The
DJIA
fell 18.78% since its January 4 high.
Nasdaq Composite
fell 33.70% from its November 19 high.
|
[42]
[43]
|
2022 Russian stock market crash
|
16 Feb 2022
|
Russia
|
As a reaction to the upcoming
Russian invasion in Ukraine
, the
MOEX Index
fell 43.58% in four trading days. In response, the markets were closed for a month by the
Central Bank of Russia
to prevent even deeper decline. After re-opening on March 24, the index partially recovered but was still down roughly 40% compared to before the invasion.
|
[44]
|
2024 China stock market crash
|
2 February 2024
|
China
|
The Shanghai Composite Index plummeted from a high of 3703 in September 2021 to 2730 on February 2, 2024, marking a 26.3% decline ahead of the Chinese New Year. The government swiftly intervened in the stock market following the crash by prohibiting short selling and reshuffling government officials. These actions were prompted by China's sluggish economic recovery following the COVID-19 pandemic and a downturn in the real estate sector.
|
[45]
|