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Britestar

What changes were enacted to the stock market when it lost 25% of it's value in a day?

Near the end of the Reagan administration, in October 1987, the stock market lost one quarter of the value of it's market cap, in a single day's trading. In other words, the value of all stocks traded was worth only 75% of what they were worth, the day before. Early the next morning, when the market had not received all the money to cover the loss, the Federal Reserve Chairman was relieved to hear that a bank had offered the NYSE an unauthorized loan, so it could open the next day. The system was saved by the skin of it's teeth. What changes to trading were enacted to prevent a similar occurrence from happening in the future?
Russ:

"Circuit breakers" and limit trading. Hi, Gary.
If the market drops a certain amount, program trading is suspended, and if it falls lower, all trading may be suspended for 30 minutes to 2 hours.

Britestar:

Hello, russ. Do you think we will see curbs tomorrow? Fridays have been bad, lately. I don't think this time.

Russ:

me, neither.

Mohamed:

LOL

Britestar:

Run out of aluminum foil?

Mohamed:

LOL

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