This story originally published on Oct. 20, 1987. It is being republished as part of the commemoration of USA TODAY’s 40th anniversary on Sept. 15, 2022.
NEW YORK — It was the Crash they promised us could never happen again.
As panicked investors scrambled to grab what money they had left, the Dow Jones industrial average spun into a dizzying free fall, losing 508.32 points to close at 1738.41 Monday. The Dow’s one-day loss of 22.6% destroyed the record set by the 12.8% plunge on Oct. 28, 1929, Black Monday. Volume was a staggering 604.33 million shares, shattering Friday’s record of 338.5 million.