INSTABILITÉ FINANCIÈRE - Index - Encyclopædia Universalis

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<div class="user-welcome"></div> <div class="login-form-wrapper-mobile"> <div class="login-form"> <div class="btn btn-sm btn-primary keep-label-space-top"> <i aria-hidden="true" class="fa fa-user"></i> Mon Compte </div> </div> </div> <div class="d-lg-none text-center mb-3"> <a href="/abonnement" title="Je m'abonne" data-matomo-category="CTA" data-matomo-name="Clic" data-matomo-value="Top (mobile)"> <img src="/typo3temp/assets/_processed_/1/6/csm_banner-cta_534716667b.webp" width="728" height="90" alt="Abonnez-vous à Universalis pour 1 euro" class="img-max shadow-sm"/> </a> </div> <div class="row"> <div id="main-content" class="col-lg-8 col-xl-9 pb-4"> <h1>INSTABILITÉ FINANCIÈRE</h1> <ul class="nav nav-pills nav-justified d-print-none d-block my-3 my-md-5 d-md-flex"> <li class="nav-item mx-1 my-1"> <a class="nav-link active" aria-current="page" href="#index-main"> 28 articles </a> </li> <li class="nav-item mx-1 my-1"> <a class="nav-link bg-light" aria-current="page" href="#index-medias">1 média</a> </li> </ul> <section class="mb-5 "> <h2 class="minor"> Articles </h2> <ul class="list-group"> </ul> <ul class="list-group"> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/crises-financieres-instabilite-financiere/"> <span class="rg">CRISES FINANCIÈRES - </span><span class="rm">Instabilité financière </span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique PLIHON</span> </li> <li class="list-inline-item text-sm">7 149 mots</li> </ul> <div class="snippet-content mt-3"> <p> L'instabilité financière se manifeste par des mouvements importants et parfois brutaux des variables financières, notamment les cours boursiers et les <a data-bs-toggle="popover" data-bs-content="Le taux de change désigne le rapport d'échange entre deux devises. L'observation du taux de change nominal (par exemple, 1 euro = 0,96 dollar) est souvent complétée par le calcul du taux de change réel, qui corrige le change nominal par l'évolution de l' inflation dans chacune des deux zones. Le taux de change bilatéral est également souvent complété par le taux de change effectif..." title="Article : TAUX DE CHANGE" href="/encyclopedie/taux-de-change/">taux de change</a>. Elle prend la forme de phases haussières (les <em>booms</em>) ou baissières (les dépressions), qui tendent à éloigner d'une manière...</p> </div> </li> </ul> <ul class="list-group"> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/banque-supervision-prudentielle/"> <span class="rg">BANQUE - </span><span class="rm">Supervision prudentielle</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Jézabel COUPPEY</span> et <span rel="author">Dominique PLIHON</span> </li> <li class="list-inline-item text-sm">6 063 mots</li> </ul> <div class="snippet-content mt-3"> <p>On appelle « supervision prudentielle » l'ensemble des dispositifs mis en œuvre par les autorités de supervision de la sphère bancaire et financière (banques centrales, organes de réglementation et de contrôle, instances internationales de concertation et de consultation) en vue de maintenir la stabilité...</p> </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/banques-centrales/#c27179"> <span class="rg">BANQUES CENTRALES</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Sylvie DIATKINE</span> </li> <li class="list-inline-item text-sm">6 899 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> Une caractéristique de l'activité bancaire est de détenir des actifs illiquides alors que les dettes ou les dépôts bancaires sont exigibles à court terme. La plupart des économistes considèrent que c'est là la source d'une instabilité intrinsèque pour les banques, sujettes aux paniques, ou ... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/bourse-marches-de-valeurs-mobilieres/#c27179"> <span class="rg">BOURSE - </span><span class="rm">Marchés de valeurs mobilières </span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Daniel GOYEAU</span> et <span rel="author">Amine TARAZI</span> </li> <li class="list-inline-item text-sm">8 158 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> La fiabilité des diverses théories et techniques en concurrence pour prévoir l'évolution des cours boursiers est soumise à rude épreuve en périodes d'instabilité financière et de bulles spéculatives. Il y a formation d'une bulle quand les prix progressent continuellement, en s'écartant de leur « vraie... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/capitalisme-notion-de/#c27179"> <span class="rg">CAPITALISME (NOTION DE)</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique PLIHON</span> </li> <li class="list-inline-item text-sm">1 414 mots</li> </ul> <div class="snippet-content mt-3"> ...contemporain (cf. Michel Aglietta et Antoine Rebérioux, <em>Dérives du capitalisme financier</em>, 2004). La place exorbitante prise par les marchés financiers est la source d’une instabilité récurrente, comme le montre la multiplication des crises financières depuis les débuts de la globalisation financière dans le... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/change-les-regimes-de-change/#c27179"> <span class="rg">CHANGE - </span><span class="rm">Les régimes de change</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Patrick ARTUS</span> </li> <li class="list-inline-item text-sm">6 911 mots</li> <li class="list-inline-item text-sm">5 médias </li> </ul> <div class="snippet-content mt-3"> En ce qui concerne l'équilibre extérieur, c'est surtout la nature tout à fait inadaptée des financements internationaux qui est à déplorer : absence d'investissements directs (d'entreprise), insuffisance des capitaux à long terme et prédominance des financements courts même quand il s'agissait de financer... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/change-le-systeme-monetaire-international/#c27179"> <span class="rg">CHANGE - </span><span class="rm">Le système monétaire international</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Henri BOURGUINAT</span> et <span rel="author">Gunther CAPELLE-BLANCARD</span> </li> <li class="list-inline-item text-sm">6 606 mots</li> <li class="list-inline-item text-sm">3 médias </li> </ul> <div class="snippet-content mt-3"> ...problèmes. Contrairement aux prédictions optimistes de <a data-bs-toggle="popover" data-bs-content="Biographie de MILTON FRIEDMAN (1912-2006). Décédé le 16 novembre 2006 à San Francisco, à l'âge de quatre-vingt-quatorze ans, l'économiste américain Milton Friedman, né à New York le 31 juillet 1912, est une figure emblématique du libéralisme économique. Quatrième enfant d'une famille pauvre venue d'Europe centrale, il a une jeunesse studieuse. Élève brillant, il obtient une bou..." title="Article : MILTON FRIEDMAN (1912-2006)" href="/encyclopedie/milton-friedman/">Milton Friedman</a>, celle-ci est loin, en effet, d'avoir joué le rôle stabilisateur attendu. Dans un contexte d'<a data-bs-toggle="popover" data-bs-content="La notion d'innovation renvoie intuitivement à l'idée de nouveauté, de changement et de progrès. Dans une acception large, l'innovation peut être assimilée à tout changement introduit dans l'économie par un agent quelconque et qui se traduit par une utilisation plus efficace des ressources. En réalité, l'innovation constitue un phénomène économique multiforme, spécifique et complex..." title="Article : INNOVATION" href="/encyclopedie/innovation/">innovation</a> et de « financiarisation » très poussé exigé par la double instabilité du change et des <a data-bs-toggle="popover" data-bs-content="Les taux d'intérêt sont des variables importantes pour l'économie, car ils influencent directement les deux principaux postes de la demande : la consommation et l' investissement , ainsi que plus indirectement le taux de change et le commerce extérieur. Par leur impact sur la demande, ils ont aussi des effets sur l' inflation . Ainsi, dans tous les grands pays avancés, les taux d'inté..." title="Article : TAUX D'INTÉRÊT" href="/encyclopedie/taux-d-interet/">taux d'intérêt...</a> </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/crises-economiques/#c27179"> <span class="rg">CRISES ÉCONOMIQUES</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Jean-Charles ASSELAIN</span> , <span rel="author">Anne DEMARTINI</span> , <span rel="author">Pascal GAUCHON</span> et <span rel="author">Patrick VERLEY</span> </li> <li class="list-inline-item text-sm">21 860 mots</li> <li class="list-inline-item text-sm">14 médias </li> </ul> <div class="snippet-content mt-3"> ...profonde crise de confiance dans la fiabilité de l'information financière et dans les mécanismes de contrôle des marchés, mouvement qui s'est traduit par une volatilité et des pertes historiques sur les marchés d'actions : sur la seule année 2003, le CAC 40 a ainsi perdu le tiers de sa valeur. Pour autant,... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/crises-economiques-au-tournant-du-xxie-siecle/#c27179"> <span class="rg">CRISES ÉCONOMIQUES AU TOURNANT DU XXIe SIÈCLE</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique PLIHON</span> </li> <li class="list-inline-item text-sm">4 333 mots</li> <li class="list-inline-item text-sm">2 médias </li> </ul> <div class="snippet-content mt-3"> ...historiens ont observé que l’histoire du capitalisme est caractérisée par des vagues d'innovations technologiques, industrielles et financières conduisant à des phases d'instabilité et de crises financières. C'est ce qu'a bien montré l'économiste autrichien Joseph Schumpeter en 1912, dans ... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/crises-financieres-krachs-boursiers/"> <span class="rg">CRISES FINANCIÈRES - </span><span class="rm">Krachs boursiers</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Christophe BOUCHER</span> </li> <li class="list-inline-item text-sm">4 298 mots</li> <li class="list-inline-item text-sm">13 médias </li> </ul> <div class="snippet-content mt-3"> <p>Il n'existe pas de définition précise et rigoureuse des notions de « crise boursière » ou de « krach boursiers ». Ces expressions, couramment employées l'une pour l'autre, servent à désigner un effondrement brutal et de grande ampleur des cours boursiers. Une telle situation survient généralement...</p> </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/crises-financieres-regulation-financiere-internationale/"> <span class="rg">CRISES FINANCIÈRES - </span><span class="rm">Régulation financière internationale </span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique PLIHON</span> </li> <li class="list-inline-item text-sm">4 738 mots</li> </ul> <div class="snippet-content mt-3"> <p>Au cours des années qui marquent l'avènement du <span class="pc">xxi</span><sup>e</sup> siècle, l'économie mondiale est secouée par des désordres financiers récurrents. Ces derniers se manifestent sous des formes diverses : crises financières des pays émergents tels que la <a data-bs-toggle="popover" data-bs-content="Vu de l'espace, le territoire de la Turquie est un grand quadrilatère (779 452 kilomètres carrés), comprenant l' Anatolie et la Thrace orientale, bordé au nord par la mer Noire , au sud par la Méditerranée et à l'ouest par la mer Égée s'allongeant d'est en ouest, tel un pont, entre le Caucase et les Balkans. La Turquie a des frontières terrestres, à l'ouest avec la Grèce ..." title="Article : TURQUIE" href="/encyclopedie/turquie/">Turquie</a> en 2000 et l'<a data-bs-toggle="popover" data-bs-content="La République argentine occupe la majeure partie du cône sud de l’Amérique. Avec 2 780 000 km 2 (sans compter 11 400 km 2 des îles Malouines et 996 000 km 2 de l' Antarctique , espaces que revendique l'Argentine), elle est, par sa superficie, le deuxième pays de l'Amérique du Sud, après le Brésil qui lui est frontalier au nord-est. Étendue depuis le tropique du Capric..." title="Article : ARGENTINE" href="/encyclopedie/argentine/">Argentine</a> en...</p> </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/dollar/#c27179"> <span class="rg">DOLLAR</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique LACOUE-LABARTHE</span> </li> <li class="list-inline-item text-sm">11 253 mots</li> <li class="list-inline-item text-sm">2 médias </li> </ul> <div class="snippet-content mt-3"> Dans le même temps, les pays périphériques cherchent à s'affranchir des contraintes que les taux de change fixes font peser sur leur politique monétaire et, partant, sur leur indépendance économique. Chaque pays tente d'agir sur ce qui est à sa portée. Si le pays centre peut changer le régime de l'or,... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/economie-mondiale-2001-etat-de-choc/#c27179"> <span class="rg">ÉCONOMIE MONDIALE - </span><span class="rm">2001 : état de choc</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Jacques ADDA</span> </li> <li class="list-inline-item text-sm">2 795 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> ...et productives entre l'Europe et les États-Unis s'est par ailleurs révélé beaucoup plus prononcé que ne l'estimaient les cadres d'analyse traditionnels. L'effondrement du Nasdaq à partir de mars 2000 a été fortement ressenti par les Bourses européennes, qui ont perdu en moyenne près du quart de leur valeur... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/economie-mondiale-2000-vers-un-reequilibrage-de-la-croissance-mondiale/#c27179"> <span class="rg">ÉCONOMIE MONDIALE - </span><span class="rm">2000 : vers un rééquilibrage de la croissance mondiale ?</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Jacques ADDA</span> </li> <li class="list-inline-item text-sm">3 064 mots</li> </ul> <div class="snippet-content mt-3"> Devenue manifeste, la surévaluation de la Bourse faisait planer le risque d'une correction brutale en cas d'accélération de l'inflation ou de défaillances financières, et par conséquent d'un ajustement sévère à la baisse de la demande privée. C'est ce risque que la Fed s'est efforcée de conjurer par... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/fed/#c27179"> <span class="rg">FED </span><span class="rm">(Federal Reserve System ou Système fédéral de réserve américain)</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Dominique LACOUE-LABARTHE</span> </li> <li class="list-inline-item text-sm">8 592 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> Les débuts de la politique du Fed ne parviennent pas à réaliser la stabilité financière espérée. Aussi bas que soient fixés les taux d'intérêt nominaux, la déflation continue des prix, qui accompagne la dépression des années 1930, accroît les taux d'intérêt réels et paralyse l'activité. Les défaillances... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/irving-fisher/#c27179"> <span class="rg">FISHER </span><span class="pc">IRVING </span><span class="rm">(1867-1947)</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Guy CAIRE</span> </li> <li class="list-inline-item text-sm">1 286 mots</li> </ul> <div class="snippet-content mt-3"> ...mouvement son portefeuille d'actifs financiers, ses convictions, et peut-être aussi sa réputation d'économiste. Fisher cherche alors à comprendre les ressorts de l'instabilité financière. Dans <em>Boums et Dépressions</em> en 1932 et dans son article de 1933 « The Debt Deflation Theory of great depression »,... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/fonds-de-pension/#c27179"> <span class="rg">FONDS DE PENSION</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Najat EL MEKKAOUI DE FREITAS</span> </li> <li class="list-inline-item text-sm">3 153 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> L'évolution des fonds de pension dépend, par ailleurs, fortement de la performance des marchés financiers. Les rendements dégagés par les actifs des fonds de pension constituent un facteur fondamental de la croissance de ces régimes. </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/histoire-mondiale-de-la-speculation-financiere-de-1700-a-nos-jours/#c27179"> <span class="rg">HISTOIRE MONDIALE DE LA SPÉCULATION FINANCIÈRE, DE 1700 À NOS JOURS, </span><span class="rm">Charles P. Kindleberger - Fiche de lecture</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Franck JOVANOVIC</span> </li> <li class="list-inline-item text-sm">991 mots</li> </ul> <div class="snippet-content mt-3"> Cette analyse des facteurs d'apparition, de contagion et d'arrêt des principales crises financières internationales, comme des possibles mesures de prévention et de limitation de ces crises, part d'un constat : alors que « les marchés fonctionnent bien d'une manière générale et peuvent décider de la... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/japon-le-territoire-et-les-hommes-l-economie/#c27179"> <span class="rg">JAPON </span><span class="rm">(Le territoire et les hommes) - L'économie </span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Evelyne DOURILLE-FEER</span> </li> <li class="list-inline-item text-sm">10 788 mots</li> <li class="list-inline-item text-sm">2 médias </li> </ul> <div class="snippet-content mt-3"> Pourtant,les autorités et les investisseurs ne prennent pleinement la mesure de l'étendue de la crise financière qu'en 1997, après la faillite de la grande banque régionale <a data-bs-toggle="popover" data-bs-content="Hokkaidō (littéralement « la route de la mer du Nord »), anciennement appelée Yeso ou Ezo, est à la fois une île, un département et une région du Japon dont le chef-lieu est Sapporo. Avec ses 83 456 kilomètres carrés, il s'agit de la deuxième île la plus vaste de l'archipel, derrière Honshū, mais devant Kyūshū et Shikoku . C'est également la plus septentrionale du bloc ce..." title="Article : HOKKAIDŌ" href="/encyclopedie/hokkaido/">Hokkaido</a> Takushoku Bank et de la quatrième maison de titres japonaise, Yamaichi Shoken. L'illusion de la solvabilité... </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/krach-de-1987/"> <span class="rg">KRACH DE 1987</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Francis DEMIER</span> </li> <li class="list-inline-item text-sm">246 mots</li> <li class="list-inline-item text-sm">1 média </li> </ul> <div class="snippet-content mt-3"> <p> Pendant l'été de 1987, la tension accrue entre les besoins d'emprunts de l'économie américaine et les disponibilités d'<a data-bs-toggle="popover" data-bs-content="Dans les sociétés contemporaines, l'épargne est une composante centrale de la vie économique. Elle est l'objet d'intenses débats publics de politique économique. Autrefois considérée comme l'expression d'une vertu, l'épargne est, depuis les travaux de John Maynard Keynes , suspectée de ralentir la croissance lorsqu'elle est trop abondante. Mais, au-delà de son niveau général, de ..." title="Article : ÉPARGNE" href="/encyclopedie/epargne/">épargne</a> du reste du monde provoque une brusque hausse des <a data-bs-toggle="popover" data-bs-content="Les taux d'intérêt sont des variables importantes pour l'économie, car ils influencent directement les deux principaux postes de la demande : la consommation et l' investissement , ainsi que plus indirectement le taux de change et le commerce extérieur. Par leur impact sur la demande, ils ont aussi des effets sur l' inflation . Ainsi, dans tous les grands pays avancés, les taux d'inté..." title="Article : TAUX D'INTÉRÊT" href="/encyclopedie/taux-d-interet/">taux d'intérêt</a>. Cette hausse brise un mouvement important de spéculation boursière,...</p> </div> </li> <li class="list-group-item"> <h3 class="fs-5 m-0 mt-1"> <a href="/encyclopedie/macroeconomie-systemes-financiers/#c27179"> <span class="rg">MACROÉCONOMIE - </span><span class="rm">Systèmes financiers</span> </a> </h3> <ul class="list-inline list-inline-bullet mb-1 text-muted"> <li class="list-inline-item text-sm">Écrit par <span rel="author">Jean-Paul POLLIN</span> </li> <li class="list-inline-item text-sm">6 902 mots</li> </ul> <div class="snippet-content mt-3"> Mais ce qui importe ici c'est plutôt l'impact qu'exercent les dysfonctionnements du système financier sur l'activité économique.Dans le cas des marchés financiers, ces dysfonctionnements proviennent d'une volatilité excessive des prix d'actifs. Car les fluctuations de la valeur des titres provoquent... </div> </li> </ul> <ul class="d-print-none pagination justify-content-center my-3"> <li class="page-item active"> <span class="page-link">1</span> </li> <li class="page-item"> <a class="page-link" href="/index/instabilite-financiere/2/"> 2 </a> </li> </ul> </section> <section class="mb-5"> <i id="index-medias" class="anchor"></i> <p class="title-minor">Média</p> <div class="row"> <div class="col-sm-6 col-lg-4 mb-4"> <div class="card"> <figure class="figure text-center w-100 mb-0 p-1" style="position: relative"> <a data-ucode="PH040035" data-showMediaPlayer="1" class="protected media-reference-copy " title="Média : Krach boursier du 19 octobre 1987" href="/media/krach-boursier-du-19-octobre-1987-ph040035/"> <img id="PH040035" loading="lazy" src="/typo3temp/assets/_processed_/0/8/csm_ph040035_a2d6d1b125.webp" class="figure-img rounded mx-auto media_resized" alt="Krach boursier du 19 octobre 1987 - crédits : Maria R. Bastone-Str/ AFP" data-description="Krach boursier. Le 19 octobre 1987, le Dow Jones perd 22,62 p. 100 en une seule séance à la Bourse de New York. Le précédent record datait du 25 octobre 1929, connu sous nom de «.jeudi noir.», où la baisse avait été de 12,8 p. 100 suivie, le lendemain, d'une nouvelle chute de 10,3 p. 100." data-copyright="Maria R. Bastone-Str/ AFP" width="800" height="535" /> </a> <figcaption class="figure-caption"> <p class="m-0 mt-1 fw-bold text-gray-700 text-truncate"> Krach boursier du 19 octobre 1987 </p> <p class="m-0 copyright text-sm text-gray-700 text-truncate"> Maria R. 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