This is a great clip of The Nightly Business Report from October 19, 1987 (Black Monday) when the Dow Jones Industrial Average ($DIA) dropped 22%.
Its so well done and funny at the same time… Some highlights…
– Neil Cavuto (1:57 in) hustling the man on the street interviews in the financial district doing a great job and looking younger than Justin Bieber.
– Larry Wachtel quipping on cascading.
– James Baker trying to talk down the $USDX
– $GLD closing up 4% at $485/oz a six month high.
– Fed Vice Chairman Manual Johnson speaking mid day of “healthy expansion with little inflation” (6:25) trying to calm the markets. LOL.
– But my favorite comes from Paul Kangas (9:37 in) who proves that we have been blaming computers for crashes (flash or otherwise) for at least 24 years. He notes while making attributions for the action:
“combined with all of those wonderfully innovative computer driven strategies”