Events of 1986
| January 28: | Challenger Disaster Space shuttle Challenger explodes 74 seconds after lift off, killing all seven crew members, including high school teacher Christa McAuliffe. |
| February: | Halley's Comet returns The much anticipated comet returns as part of its 76 year orbit. Skywatchers are disappointed by the unspectacular view. |
| February 25: | Ferdinand Marcos ousted from Philippines A peaceful uprising forces Marcos out of power and and installs Corazon Aquino as president. |
| April 15: | U.S. bombs Libya |
| April 28: | Chernobyl accident Soviet nuclear power plant has a partial meltdown, releasing clouds of radiation across Europe. |
| May 8: | Coca Cola's 100th anniversary |
| May 25: | Hands Across America |
| July 4: | Statue of Liberty's 100th Anniversary celebration/restoration |
| October 11: | Reykjavik summit ends with no agreement Reagan and Gorbachev have a summit meeting in Reykjavik, Iceland, but ends when Reagan refuses to abandon SDI. |
| November 25: | Iran-Contra Affair Reagan administration announces that proceeds in arms sales to Iran, for assisting in releasing hostages in Lebanon, has been diverted to helping Nicauraguan freedom fighters, the Contras. |
| December 20: | Howard Beach racial attack A group of white youths attack three black men in Howard Beach, New York, chasing one of them onto the Belt Parkway, where he is killed by an oncoming car. |