Time Magazine Contents Page November 2, 1987

Vol. 130 No. 18

20

COVER: The Crash of '87 sends stock markets around the world plummeting to record losses

On Black Monday the Dow Jones industrial average plunges by 22.6%, far more than on the worst day of 1929. As stock prices fluctuate wildly through most of the week, the crisis spotlights Washington' s failure to curb Government spending and borrowing. Few economists expect another Great Depression, but a recession is more likely now. -- In an exclusive interview, Treasury Secretary James Baker gives the Administration' s view of the tumult. -- One way or another, everyone is in the market, and anyone can...