1987年股灾其实不可怕，是在大盘半年涨了40+%情况下发生的# Stock
w*g
1 楼
如果你不是上马金在1987年八月入市，应该用不着跳楼
相比之下，2008年股灾要可怕得多，由金融次贷危机所引起，几乎把美国的金融体系搞
崩溃，是唯一可以和1929-1933大萧条并论的
相比之下，2008年股灾要可怕得多，由金融次贷危机所引起，几乎把美国的金融体系搞
崩溃，是唯一可以和1929-1933大萧条并论的
w*g
2 楼
The cause of the stock market crash of 1987 was primarily program trading,
used by institutions to protect themselves from significant market weakness.
Some secondary factors included excessive valuations, illiquid markets and
market psychology
The idea of using computer systems to engage in large-scale trading
strategies was still relatively new to Wall Street and the consequences of a
system capable of placing thousands of orders during a crash never had been
tested. These computer programs automatically began to liquidate stocks as
certain loss targets were hit, pushing prices lower. To the dismay of the
exchanges, program trading led to a domino effect as the falling markets
triggered more stop-loss orders. The frantic selling activated yet another
round of stop-loss orders, which dragged markets into a downward spiral.
Since the same programs also automatically turned off all buying, bids
vanished all around the stock market at basically the same time.
used by institutions to protect themselves from significant market weakness.
Some secondary factors included excessive valuations, illiquid markets and
market psychology
The idea of using computer systems to engage in large-scale trading
strategies was still relatively new to Wall Street and the consequences of a
system capable of placing thousands of orders during a crash never had been
tested. These computer programs automatically began to liquidate stocks as
certain loss targets were hit, pushing prices lower. To the dismay of the
exchanges, program trading led to a domino effect as the falling markets
triggered more stop-loss orders. The frantic selling activated yet another
round of stop-loss orders, which dragged markets into a downward spiral.
Since the same programs also automatically turned off all buying, bids
vanished all around the stock market at basically the same time.
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