Another Black Monday anniversary comes and goes

33 years ago today

The S&P 500 is now down 25 points after gaining almost that much at the open. It's a turnaround but nothing compared to the 22% drop on Back Monday.

Sadly, it won't be much longer until none of the people who really traded Black Monday are still in the game. He's Art Cashin's reminiscences of 1987 from back at the 30th anniversary.

October 19, 1987 was the largest one-day drop in US equity market history and it still remains one of the most mysterious. Perhaps there's a lesson in that. When there's a crisis, war or pandemic the market will fall but once the risks are known, it becomes a two-way market as people try to manage risks. The unknown is still the greatest fear of traders.

Paul Tudor Jones reportedly made $500 million that day. If the anchor's voice sounds familiar, that's CNBC's Bill Griffeth.

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