MacKenzie, a professor of science and technological studies at the University of Edinburgh, compared the flash crash with Black Monday crisis of October 19, 1987.
As the crash site belched black smoke, residents ran toward the apartments but then ran away when subsequent explosions frightened them, eyewitnesses said.
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Her lawyer, Colin Simpson, said he would argue during the trial that the crash happened because of black ice.
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Ambulances were at the crash site, and thick black smoke was pouring from the wreckage, the AFP news agency reported.
Though most simply remember the 1987 Crash as one panicked selling day, Black Monday was just the largest drop in a string of bad days.
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Mr Blackwell's black Labrador Oscar was also killed in the crash.
Spain is facing a black hole in its banks, caused by the property crash.
The crash of 2008 left huge numbers of unsold holiday flats along the Black Sea coast.
The U.S. Fish and Wildlife Service and Justice Department have launched "Operation Crash" using undercover agents and electronic surveillance in an effort to stop the black market trade in rhino horns, which has led to poaching and has reduced the world's rhino population by more than 90 percent since 1970.
Frederick cautions that Black-Scholes underestimates the probability of big moves, like that freakish crash on Oct. 19, 1987.
It is best known as the former black hospital where Bessie Smith, the greatest blueswoman, died following a car crash in 1937.
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The race will have a somber note as drivers will wear black armbands in tribute to Dan Wheldon, who died in a 15-car IndyCar crash two weeks ago.
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