- William Buckley, American hostage in Lebanon, reported slain (Jan. 20).
- Iraqi missiles kill 37 in attack on US frigate Stark in Persian Gulf (May 17); Iraqi president Hussein apologizes (May 18).
- Prime Minister Thatcher wins rare third term in Britain (June 11).
- Klaus Barbie, 73, Gestapo wartime chief in Lyon, sentenced to life by French court for war crimes (July 4).
- US Supreme Court rules Rotary Clubs must admit women (May 4).
- US Supreme Court Justice Lewis F. Powell, Jr., retires (June 26).
- Oliver North, Jr., tells Congressional inquiry higher officials approved his secret Iran-Contra operations (July 7–10).
- Admiral John M. Poindexter, former National Security Adviser, testifies he authorized use of Iran arms sale profits to aid Contras (July 15–22).
- George P. Shultz testifies he was deceived repeatedly on Iran-Contra affair (July 23–24).
- Defense Secretary Caspar W. Weinberger tells inquiry of official deception and intrigue (July 31, Aug. 3).
- Reagan says Iran arms-Contra policy went astray and accepts responsibility (Aug. 12).
- Senate, 58-42, rejects Robert H. Bork as US Supreme Court Justice (Oct. 23).
US GDP (1998 dollars): $4,692.30 billion
Federal spending: $1003.91 billion
Federal debt: $2346.1 billion
Median Household Income
(current dollars): $26,061
Consumer Price Index: 113.6
Cost of a first-class stamp: $0.22
NY Giants d. Denver (39-20)
Minnesota d. St. Louis Cardinals (4-3)
LA Lakers d. Boston (4-2)
Edmonton d. Philadelphia (4-3)
Women: Martina Navratilova d. S. Graf (7-5 6-3)
Men: Pat Cash d. I. Lendl (7-6 6-2 7-5)
Kentucky Derby Champion
- Though African, Latin American and other genres of international music have been around for centuries, a group of small, London-based labels coin the term “world music,” which helps record sellers find rack space for the eclectic music.
- thirtysomething debuts on ABC and departs from typical dramas, featuring analytical, self-absorbed baby-boomer characters.
- Moonstruck, Wall Street, The Last Emperor, Fatal Attraction
- Penelope Lively, Moon Tiger
- Toni Morrison, Beloved
- Prozac released for use in US by Eli Lilly & Company. Background: Health & Nutrition
- AZT wins FDA approval for use in the treatment of AIDS.
- An international treaty signed in Montreal calls for a 50% reduction in the use of CFCs by the year 2000 (Sept. 16). Background: environmentalism
- Richard Branson and Per Lindstrand make the first transatlantic hot-air balloon flight. 2,790 miles from Sugarloaf Mountain, Maine, to Ireland Virgin Atlantic Flyer (July 2–4). Background: Famous Firsts in Aviation
- William Casey (CIA)
- Andy Warhol
- Rudolf Hess
- John Huston
- James Baldwin