1st Indianapolis 500 auto race is run

Just four days after surviving his unscheduled trip into the harbour during the Monaco Grand Prix, Alberto Ascari was killed testing at Monza.

Just four days after surviving his unscheduled trip into the harbour during the Monaco Grand Prix, Alberto Ascari travelled to Monza to watch his friend Eugenio Castellotti test a Ferrari 750 Monza that he was due to race together in the upcoming 1000Km race there. Not content with watching Ascari decided to have a go but not having planned to drive he did not have his luck blue helmet with him. Thus he borrowed Castellotti's. On his third lap the car, for no apparent reason, slid on exiting the Curva del Vialone, turned on its nose and somersaulted twice. Ascari suffered multiple injuries when he was thrown from the car. He died almost imediately.The corner was renamed in his honour, and when it was replaced with a chicane it was named Variante Ascari. There were a number of strange coincidences between his death and that of his father Antonio Ascari. Both died on the 26th of the month, both were 36 years old, drove car number 26 and had both won 13 Grand Prix. Both died four days after surviving previous accidents and both left a wife and two children

Graham Hill took the first of five Monaco GP wins on a works BRM P57 from teammate Richie Ginther's BRM P57 and defending winner Bruce McLaren in a Cooper/Climax 66.

Lola Cars went into administration after 39 years of building racing cars. Their demise was largely brought about by their failed F1 ambitions. Their F1 team only competed in two events, the Australian and Brazilian Grand Prix that year, failing to qualify for either.