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What significant event occurred during Greenspan's first year as Fed chairman?

  • The internet was invented

  • 1987 stock market crash

  • Start of the Gulf War

  • Fall of the Berlin Wall

Answer

The 1987 stock market crash, also known as Black Monday, stands out as a significant event during Alan Greenspan's first year as the chairman of the Federal Reserve. On October 19, 1987, the Dow Jones Industrial Average plummeted by 22.6%, marking the largest single-day percentage decline in its history. The crash triggered global market downturns and raised concerns about the stability of the financial system.
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