1935day.year

The League of Nations places economic sanctions on Italy for its invasion of Ethiopia.

In response to Italy's aggression in Ethiopia, the League of Nations enacts its first collective economic sanctions.
On October 19, 1935, the League of Nations imposed economic sanctions on Fascist Italy to protest its invasion of Ethiopia (then Abyssinia). The measures targeted arms sales, loans, and exports of key commodities, but crucial resources like oil were exempted. Major powers' reluctance to fully enforce sanctions weakened their impact and emboldened aggressive states. The episode highlighted the limitations of interwar collective security and foreshadowed the League's inability to prevent World War II. Italy eventually secured alternative trade partners, rendering the sanctions largely ineffective.
1935 invasion of Ethiopia
1987day.year

Black Monday: The Dow Jones Industrial Average falls by 22%, 508 points.

On October 19, 1987, Black Monday saw the Dow Jones Industrial Average plummet by 22%, marking the largest one-day percentage drop in history.
Black Monday occurred on October 19, 1987, when global stock markets crashed in a sudden sell-off. The Dow Jones Industrial Average fell 508 points, a 22% drop that erased years of gains. Panic selling was triggered by computer-driven trading programs and concerns over rising interest rates. Markets in London, Hong Kong, and other major financial centers also suffered steep losses. The crash led to reforms such as circuit breakers to curb future market volatility. Economists continue to study Black Monday for insights into systemic financial risks.
Black Monday