what are characteristics of Preppy Style?

A. Classic clothes by Ralph Lauren and Brooks Brothers for men
B. shirts with no button
C. informal trousers and shoes
D. A sweater tied in a loose knot around the neck
E. ripped jeans

In the late 1980s, the world stock market 1 _________ , so the dressing style is more 2 _____________, which was called 3 _________ ________ .