Wednesday, 24 October 2018


Ten years ago today, world stock exchanges underwent their sharpest decline in modern history—causing some ten percent of global wealth to sublimate in a single day’s worth of trading, despite emergency measures. “Bloody Friday,” which precipitated a period characterised as the Great Recession, occurred on the same day of the month as “Black Tuesday” of 1929, bringing down Wall Street following the crash in London markets in September and set off the Great Depression that affected all Western industrial economies.