Stock markets around the world crash because of fears of a global economic meltdown. The Dow Jones Industrial Average plummets 554.26 points to 7,161.15. For the first time, the New York Stock Exchange activated their "circuit breakers" twice during the day eventually making the controversial move of closing the Exchange early (see October 27, 1997 mini-crash).

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Quote

Unfortunately, most of the songs that I write I don't write them with guitar in mind. I just write it as a song and that was probably one of the ones that left an opening for it. The song's all right, I wouldn't choose to sing it now.

Roy Wood

Today In History

1973

Watergate Scandal: US President Richard M. Nixon agrees to turn over subpoenaed audio tapes of his Oval Office conversations about the scandal.