Diary Entry - 10/19/1987
Key Facts
President Reagan participates in a meeting with U.S. and Saudi Arabian officials.
President Reagan attends a swearing-in ceremony for Secretary-designate Verity.
On "Black Monday", the stock market crashes as the Dow Jones Industrial Average plunges 508 points, 22.6%,-- its biggest-ever one-day decline.
At 7 A.M. our time 4 U.S. Destroyers warned men on 2 adjoining platforms in the gulf which served as Radar & Command & Control posts to get off—most if not all did. We then loosed 1,000 rounds of 5 inch shells on the platforms. Mission successful. Most of our meeting time taken up by reports on this & our dealings with Cong. Cong. is for most part supportive of our action.
Later in morning Bill Verity & family 37 in all came by for photos. Then an issues briefing lunch (1st in a few weeks) and then over to Commerce Bldg. for Bills swearing in. We also announced—the great hall as it’s called is to be named the Malcolm Baldrige Hall.
Back at the W.H. recv’d. report from Commission on Merchant Marine. Later—photo & short meeting with Pres. Museveni of Uganda plus his foreign minister is an Oxford educated former Princess of Uganda.
Then a haircut, a meeting with 10 children from all over the country who have been honored for performing heroic deeds. Then left (by helicopter) for Bethesda & dinner with Nancy. She has astounded the medical profession with her rapid recovery. She’ll be home soon.
By days end the news was a 508 fall in the Dow Jones. Some people are talking of panic—the Dow is down 800 points in just over a week.
