Markets are ripe for a correction - prepare yourself for turbulence

25 years after 'Black Monday', investors are getting nervous. And they're right to be, says John Stepek. Here, he explains why there's trouble ahead for the markets, and what it means for you.

Friday was the 25th anniversary of Black Monday', the day in 1987 when major stock markets around the world collapsed in a single session.

As if in tribute, the US stock market saw its worst day since June, with the Dow Jones index falling by more than 200 points.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.