The surge in US stock markets raises fears of an upcoming global financial crisis. In recent decades, the world has experienced crises of various origins and consequences.

This century has been marked by four main speculative crises. In 1929, the mother of all financial crises began on a black Thursday. On October 24, massive stock sales rocked Wall Street and put an end to years of speculation. In less than a month, about half the value of the Dow Jones evaporates and leaves savers in ruins.
In 1987 and precisely on October 19, the Dow Jones lost 22.6%, the worst fall in a day in its history. This bankruptcy swept away in its wake the stock markets of the whole world. The year 2000 is the turn of the Internet. The Nasdaq, the index of U.S. technology stocks, falls after a high point in March, more than three years after Federal Reserve Chairman Alan Greenspan warned of the risk of "irrational exuberance."
In 2008, the subprime crisis caused toxic exposures to the US housing bubble. Global stock markets have deteriorated sharply while mistrust between private banks is causing a credit freeze in the autumn.