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A First-Class Catastrophe: The Road to Black Monday, the Worst Day in Wall Street History INDIA Tarr makes a startling discoveryThe definitive account of the crash of 1987, a cautionary tale of how the U. S. financial system nearly collapsed from the bestselling author of The Wizard of Lies Monday, October 19, 1987, was by far the worst day in Wall Street history. The market fell 22. 6 percent almost twice as bad as the worst day of 1929 equal to a one day loss of nearly 5,000 points today. Black Monday was more than seven years in the making and threatened nearly every U. S.