Here's how CNN reported Black Monday at the time.LOU DOBBS, CNN HOST, MONEYLINE: Good evening. The stock market today crashed. The Dow Jones Industrials, every other major index, breaking records in its plummet downward.ROMANS: Yes, it was a crash pureand simple. And it was blamed on a number of factors, heightened hostilities in the Persian Gulf, fear of higher interest rates, a five-year bull market without a significant correction at all, and program trading. But really, the word you heard over and over again —UNIDENTIFIED FEMALE: This is a panic.UNIDENTIFIED MALE: People were panicking.REPORTER: This nosedive was pure investor panic.DOBBS: Well, panic is the only way to describe what happened on Wall Street today.ROMANS: Panic, 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 calm or orderly, that's when Black Mondays are born.So, could it happen again?A panic is always theoretically possible, but a 22 percent decline on the Dow, 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. Think of it as a trading timeout, designed to give investors a chance to calm down. In other words, to interrupt a panic, and maybe to prevent another Black Monday.p1-*uEd3gN 29OyW+%WC&IFsbUhiET^P3e)CZ#vW4~1suZiU|S]#^.-q*Pu9.PB
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