Crashes hold lesson for central banks: keep markets at arm's length

From Fed's Greenspan to BOJ's Ueda, investor-friendly moves often take a toll

20240830N Japan market

Central bank moves to aid stock prices risk sowing the seeds of future market instability. © Reuters

AKIO FUJII, Nikkei executive chair of editorial board

TOKYO -- On Oct. 19, 1987, the U.S. stock market crashed in what would come to be known as Black Monday. The Dow Jones Industrial Average plummeted 22%, surpassing the panic of 1929.

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