Monday, May 28, 1962: 'Black Monday'

The term "Black Monday" is again used to describe a substantial drop in share prices on the U.S. stock exchange. (The first being October 28, 1929.)

From The Associated Press: "The mightiest avalanche of selling in 32 years slugged the stock market into another severe loss today. It was a 'Black Monday' for investors who saw billions of dollars in stock value go down the drain."

* Stories, photos from Life magazine (June 8, 1962): @

* "Back to the Future: Lessons From the Forgotten 'Flash Crash' of 1962" (Wall Street Journal, 2010): @

* "The Present Decline in Perspective" (Report from the Council of Economic Advisers, May 29, 1962): @

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