On This Day: October 19. 1987

STOCKS PLUNGE 508 POINTS, A DROP OF 22.6%; 604 MILLION VOLUME NEARLY DOUBLES RECORD; MORE ABOUT THE MARKETS

Worldwide Impact

Frenzied Trading Raises Fears of Recession -- Tape 2 Hours Late

By LAWRENCE J. De MARIA

Bonn and the United States agreed that the dollar should be stabilized near current levels. Disagreement on currency levels and interest rates had contributed to unrest in the markets. Page D1.

Small investors searched for news much of the day. Many held on to their stocks, as they tried to determine what really was happening in the stock market. Page D1.

Washington officials hesitated to offer investors immediate advice. The shouts of panic on Wall Street echoed only faintly in the corridors of the Reagan Administration. The White House maintained that the underlying economy remained sound. News analysis, page D32.

Investors bought U.S. securities in a search for a safe place to put their money. Some interest rates hovered just below 10 percent. Page D1.

Tokyo's stock market plummeted to record losses today and the Hong Kong market suspended trading for the week as Asian investors reacted in fright to the collapse on Wall Street. Page D1.

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http://www.nytimes.com/learning/general/onthisday/big/1019.html#article

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