"Old times there are not forgotten"
Economic sanctions against Libia were ordered. The Federal Reserve dropped the discount interest rate a full percentage point during the course of the year. The U.S. dollar continued to decline against the yen and other foreign currencies. A glut of foreign oil dropped the price of crude below $20. Unemployment continued to increase while female professionals in the workforce over took the number of male professionals for the first time. It was revealed that the federal government was secretly selling arms to the Islamic government in Iran to obtain funds to support a revolution in Nicaragua.
New book titles: The Garden of Eden, Gerald's Party, A Perfect Spy and Last of the Breed.
At the movies: Children of a Lesser God, Hannah and Her Sisters, The Mission, Platoon, A Room With a View and The Color of Money.
On stage: Williams and Walker, Lie of the Mind, Benefactors and I'm Not Rappaport.
Emmy Awards: William Daniels and Bonnie Bartlett for St. Elsewhere, Sharon Gless and John Karlen for Cagney and Lacey and Cagney and Lacey for best drama series.
January 19
The first personal computer virus, Brain, started to spread.
January 28
The space shuttle Challenger exploded less than two minutes into liftoff at Cape Canaveral, Florida killing all astronauts aboard.
February 9
The Halley Comet reached its closest point to the Earth, during its second visit to the solar system during the 20th century.
February 19
The Soviet Union launched the Mir space station.
May 5
The Supreme Court of the United States ruled that opponents of capital punishment can be barred from juries in capital cases.