Black Monday in worldwide stock markets. FTSE 100 had its biggest ever one-day points fall, European stocks closed with their worst result since 11 September 2001, and Asian stocks drop as much as 14%.

In Belmopan, Belize, the unrest over the government's new taxes erupts into riots.

NASA's MER-A (the Mars Rover ''Spirit'') ceases communication with mission control. The problem lies in the management of its flash memory and is fixed remotely from Earth on February 6.

The Canadian Dollar sets all-time low against the US Dollar (US$0.6179).

Ecuador: After the Ecuadorian Congress is seized by indigenous organizations, Col. Lucio Gutierrez, Carlos Solorzano and Antonio Vargas depose President Jamil Mahuad. Gutierrez is later replaced by Gen. Carlos Mendoza, who resigns and allows Vice-President Gustavo Noboa to succeed Mahuad.

War on Drugs: In one of the largest drug busts in American history, the United States Coast Guard intercepts a ship with over {{convert|4300|kg|lb}} of cocaine on board.

Newt Gingrich becomes the first leader of the United States House of Representatives to be internally disciplined for ethical misconduct.

The inauguration of President Ronald Reagan to a second term, already postponed a day because Jan. 20 fell on a Sunday, becomes the second inauguration in history moved indoors because of freezing temperatures and high winds. The parade is cancelled altogether.

Tehran releases American hostages after 444 days.

President Jimmy Carter pardons nearly all American Vietnam War draft evaders, some of whom had emigrated to Canada.

Commercial service of ''Concorde'' begins with the London-Bahrain and Paris-Rio routes.

A B-52 bomber crashes near Thule Air Base, contaminating the area after its nuclear payload ruptures. One of the four bombs remains unaccounted for after the cleanup operation is complete.

Vietnam War: Battle of Khe Sanh

Little Joe 1B, a Mercury spacecraft, lifts off from Wallops Island, Virginia with Miss Sam, a female rhesus monkey on board.

The last Fokker C.X in military service, the Finnish Air Force FK-111 target tower, crashes, killing the pilot and winch-operator.

The first nuclear-powered submarine, the {{USS|Nautilus|SSN-571|6}}, is launched in Groton, Connecticut by Mamie Eisenhower, the First Lady of the United States.

Alger Hiss is convicted of perjury.

The Flag of Quebec is adopted and flown for the first time over the National Assembly of Quebec. The day is marked annually as Quebec Flag Day.

Albania declares itself a republic.

The Italian Communist Party is founded at Livorno.

Meeting of the First Dáil Éireann in the Mansion House Dublin. Sinn Féin adopts Ireland's first constitution. The first engagement of Irish War of Independence, Sologhead Beg, County Tipperary.

Kiwanis International is founded in Detroit, Michigan.

The first Monte Carlo Rally takes place.

New York City passes the Sullivan Ordinance, making it illegal for women to smoke in public, only to have the measure vetoed by the mayor.

Opel manufactures its first automobile.

The Tati Concessions Land, formerly part of Matabeleland, is formally annexed to the Bechuanaland Protectorate, now Botswana.

{{Convert|465|mm|in}} of rain falls in Brisbane, a record for any Australian capital city.

The Tauranga Campaign begins during the Maori Wars.

American Civil War: Jefferson Davis resigns from the United States Senate.

After being found guilty of treason by the French Convention, Louis XVI of France is executed by guillotine.

The first American novel, ''The Power of Sympathy or the Triumph of Nature Founded in Truth'', is printed in Boston, Massachusetts.

The Verona Philharmonic Theatre is destroyed by fire. It is rebuilt in 1754.

Sweden and Prussia sign the Treaty of Stockholm.

Abel Tasman becomes the first European to reach Tonga.

The Swiss Anabaptist Movement is founded when Conrad Grebel, Felix Manz, George Blaurock, and about a dozen others baptize each other in the home of Manz's mother in Zürich, breaking a thousand-year tradition of church-state union.

The treaty of San Agayz is signed. Minorca is conquered by King Alfons III of Aragon.

Philip II of France and Richard I of England begin to assemble troops to wage the Third Crusade.