TOKYO — On Oct. 19, 1987, the U.S. stock market crashed on what would become known as Black Monday. The Dow Jones Industrial Average has fallen 22%, surpassing the 1929 Panic.
It was the first stock crash I experienced as a financial reporter. Nikkei's US headquarters called an emergency meeting and I was tasked with dealing with markets other than stocks, where I learned the phrase “flight to quality” as Treasuries and precious metals soared.