The surge in American stock markets raises fears of the next global financial crisis. In recent decades, the world has experienced crises with diverse 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 shook Wall Street and put an end to years of speculation. In less than a month, about half of 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 one-day fall in its history. This bankruptcy swept stock markets around the world in its wake. The year 2000 was the turn of the Internet. The Nasdaq, the US tech stock index, is falling after a peak 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 American housing bubble. World stock markets have deteriorated sharply as mistrust between private banks caused a credit freeze in the autumn