JAN HOPKINS, ANCHOR, "STREET SWEEP": Well, I was at stock exchange on the previous Friday, the market I think fell something like a hundred points, which then was very dramatic.</s>STUART VARNEY, ANCHOR, "MONEYLINE": We had an inkling that something big was coming down the pike at us up that Monday morning. And sure enough, when the market opened, yes, there was an enormous amount of selling, the market went straight down, it recovered briefly. As I recall it went actually back into the plus column around midday, but then, late in the session, in the last couple of hours, it simply could not find a bottom and spiraled down virtually out of control. It was a free-fall market, in which, for the first time in my career, I had witnessed people actually panicking. There was mass panic at that particular time, as people frankly couldn't even get hold of their broker on the phone. And if they wanted to sell something, they often could not sell it, they could not get out, and they were seeing their investments just spiral down to a worthless position. There was an extraordinary moment in business and finance.
CNN 20: 'Black Monday,' October 19, 1987