Crashes can result in regulatory changes, which occurred when the Panic of 1907 led to the creation of the U.S. Federal Reserve System
The crisis began in New York City trust companies, which competed with banks, but were outside the control of the New York Clearing House.
Another Black Monday took place on Monday, Oct. 19, 1987, when the Dow Jones Industrial Average plummeted 22.6%.
Began in Thailand on July 2, 1997: After exhausting its foreign currency reserves, Thailand devalued its currency relative to the U.S. dollar.
At the core of the Great Recession a housing crash hit the United States, spurred by lax lending practices to those with little ability to repay.
Chinese stocks tumbled during the summer of 2015, scaring investors who had borrowed to buy stocks as their prices soared.
FOR MORE ABOUT THIS POST, VISIT RADICAL FIRE