The 1987 Stock Market Crash is the first contemporary global financial crisis that unfolded, with the world suffering one of their worst days ever, known as the Black Monday. The crash began in Asia, picked up steam in London, and ultimately ended with the Dow Jones Industrial Average down to a devastating 22.6%, with all of the twenty-three major world markets experiencing a sharp decline. It is thought that the cause of the crash was precipitated by computer program-driven trading models that followed a portfolio insurance strategy as well as investor panic. With a chain of reaction of market distress sending global stock exchanges plummeting in a matter of hours, the Black Monday was — and still remains — the worst day in the Dow Jones history, a loss that remains the largest one-day stock market decline in history. Since 1987, a number of protective mechanisms have been built into the market to prevent panic selling, such as trading curbs and circuit breakers.