Monday, the Dow plunged 22.6%.

週一，道指大跌22.6%。

It had never happened before.

以前從未發生過這樣的事情。

It's still the biggest one day percentage loss of all time.

這還是有史以來最大的單日百分比損失。

That means bigger than the 1929 stock market crash or when trading reopened after the September 11th attacks, or during the financial crisis that almost wiped out the global economy.

這意味著比1929年的股災或9.11襲擊後重開交易時，或幾乎摧毀全球經濟的金融危機期間更大。

Here's how CNN reported Black Monday at the time.

以下是CNN當時對黑色星期一的報道。

Good evening.

晚上好

The stock market today crashed the Dow Jones industrials, every other major index breaking records in its plummet downward.

今天的股市擊潰了道瓊斯工業指數，其他各大指數都在暴跌中打破了記錄。

Yep, it was, ah, crash pure and simple.

是的，這是，啊，崩潰純粹和簡單。

And it was blamed on a number of factors.

而這是由多種因素造成的。

Heightened hostilities in the Persian Gulf.

波斯灣的敵對行動加劇。

Fear of higher interest rates.

擔心利率上升。

Ah, five year bull market without a significant correction at all and program trading.

啊，五年的牛市，根本沒有大幅調整，程序化交易。

But really the word you heard over and over again this is a panic.

但其實你反覆聽到的這個詞是一種恐慌。

People were panicking.

人們都很恐慌。

This'll nose dive was pure investor panic.

這次的鼻子跳水純粹是投資者的恐慌。

We'll panic is the only way to describe what happened on Wall Street today.

我們會驚慌失措是形容今天華爾街發生的事情的唯一方法。

Panic.

驚慌失措。

That's a big part of what separates a crash from just a really bad day on Wall Street when emotion takes over, when trading is no longer call more orderly.

這就是華爾街的崩盤和真正糟糕的一天的區別，當情緒佔據了主導地位，當交易不再叫更有秩序的時候，這就是一個很大的部分。

That's when black Monday's air born.

這時黑色星期一的空氣誕生了。

So could it happen again?

那會不會再發生一次？

Ah, panic is always theoretically possible, but a 22% decline on the Dow.

啊，恐慌在理論上總是有可能的，但道瓊斯指數下跌22%。

That's less likely because of circuit breakers first implemented after the Black Monday freefall circuit breakers kick in to halt trading when stocks dive too far too fast.

這不太可能，因為在黑色星期一自由落體斷路器首次實施後，當股票跳水過快時，斷路器啟動停止交易。

Think of it as a trading time out, designed to give investors a chance to calm down.

把它看作是一個交易時間，旨在給投資者一個冷靜下來的機會。

In other words, Thio interrupt a panic and maybe to prevent another black Monday.

換句話說，Thio中斷恐慌，也許是為了防止另一個黑色星期一。