Chapter 12 The Normal Probability Model
Prices of Stock Plummeted in October 1987.
Figure 12.1 tracks the daily value of the stock market in October. The month began with a slight rise, but by Friday, October 16, the market had gradually fallen to $2.9 trillion. That drop was only a prelude. On the following Monday, the total value sank $500 billion; half a trillion dollars evaporated in one day. It’s no wonder people call this day “Black Monday.”
The sudden collapse left investors stressing over the possibility of another ...
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