October 1987 crash in historical perspective
On 19 October 1987, following three days of decline in the New York stock market, the Hong Kong market dropped 10.5 per cent after a rise of 89 per cent in the previous 12 months.
The Consulate General of India in New York said that they have learned about a fire incident in a residential building in Jersey City and added that Indian students and professionals residing there are safe.
India’s Consulate is in constant touch with Indian students and providing them with all the assistance, including accommodations and other important documents.
The statement of the Consulate General of India in New York comes after more than a dozen people, mostly students were displaced from their homes following a fire that started in the basement of a Jersey City multi-family building and spread to the first and second floors and then the roof on Thursday.
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In a post on social media platform X, Consulate General of India in New York stated, “@IndiainNewYork learnt of the unfortunate fire incident in a residential building in Jersey City. Indian students and professionals residing there are safe and no one was hurt. We have been in constant touch with the students and are extending all assistance including with accommodation and important documents, etc.”
According to City spokeswoman Kimberly Wallace-Scalcione, Jersey City firefighters who were responding to the incident found that the fire had already spread to the first and second floors.
The fire has caused damage to the roof of a neighbouring building. The American Red Cross has provided aid to 14 residents, who suffered severe fire and overhaul damage to the entire structure. There were no reported injuries to residents or firefighters.
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