New York Stock Exchange
1997 Mini-Crash
New York City, New York, U.S.
Similarly, there was a panic in the financial world during the year 1997; the Asian Financial Crisis. Like the fall of many foreign markets, the Dow suffered a 7.18% drop in value (554.26 points) on October 27, 1997, in what later became known as the 1997 Mini-Crash but from which the DJIA recovered quickly. This was the first time that the "circuit breaker" rule had operated.