Which one of these statements related to the Crash of 1987 is false?

Multiple Choice

1. In some cases, it became impossible to contact a market maker.

2. Between August and October 1987 the market declined over 40 percent.

3. Following the Crash of 1987, the market continued to slowly decline over the following year.

4. Program trading is at least partially to blame for the market meltdown.

5. Trading volume exceeded the market's capacity to handle the order flows.