Part 2/10:
Initially, predictions for a catastrophic market downturn on “Black Monday” did not materialize; the S&P 500 was down 8%, contrary to fears of a Great Depression-like crash. While the overall market dipped slightly, Disney faced far worse: its stock had plummeted 15% in just five days and was down almost a quarter year-to-date. Iger's term may soon be marked by this "nightmare quarter," but he has a narrative to spin, one that veers towards external blame.