1987年股市大崩盘有多惨？2万亿美金蒸发，股神巴菲特也损失惨重

Core Viewpoint - The 1987 stock market crash, known as "Black Monday," was a significant economic event that caused a global financial crisis, but it did not lead to the collapse of the Western economic system as many feared [3][18]. Group 1: Causes of the Crash - The stock market bubble formed during the 1980s due to rapid economic growth driven by technological advancements, leading to excessive speculation and high returns expectations [13][15]. - The market began to show signs of decline in 1987, with major companies' stock prices starting to falter, which contributed to the eventual crash [15][16]. - The crash was exacerbated by institutional investors and automated trading systems, which led to a chain reaction of selling [20][18]. Group 2: Impact of the Crash - On October 19, 1987, the Dow Jones Industrial Average fell by 22%, resulting in a loss of over $500 billion in the U.S. and a total global loss of approximately $1.79 trillion [16][18]. - The crash affected stock markets worldwide, with significant declines in places like Hong Kong, the UK, West Germany, Japan, and Australia [16][18]. - Despite the severity of the crash, it did not trigger a global economic collapse, largely due to international cooperation and the interconnectedness of global markets [18][22]. Group 3: Responses and Reforms - In response to the crash, the U.S. introduced a "circuit breaker" mechanism in 1988 to prevent future market crashes by halting trading when stocks fall below a certain threshold [22]. - Other countries adopted similar measures to stabilize their markets and avoid repeating the events of 1987 [22]. - The implementation of these mechanisms has helped prevent similar disasters in the 21st century, even during significant market disruptions like the COVID-19 pandemic [23].