Posted on 10/24/2005 11:14:02 AM PDT by dakine
The Crash of 1929 - Timeline
1921 August 24. With the economy still in the doldrums after the First World War, the Dow Jones Industrial Average is only at 63.90 points.
1922 August 22. The Dow tops 100, closing the day at 100.75. The boom is on.
1927 December 19. Wall Street gets an early Christmas present: The Dow tops 200 for the first time, closing the day at 200.93.
1928 December 31. Happy New Year! The Dow hits 300 for the first time, closing the day at exactly 300.00.
1929 September 3. On the day after Labor Day, the Dow hits its pre-crash high, closing at 381.17. It wouldn't reach that mark again for 25 years!
October 24 (Black Thursday). The crash begins. Panic selling is triggered, some say, by an economist's prediction of an impending crash. That afternoon, five banks pony up about $20 million each to buy stock and restore confidence in the market. It seems to work. There's a late rally, and the Dow closes at 299.47. A record-breaking 13 million shares are traded.
October 25. The rally begun the previous afternoon continues, and the Dow closes at 301.22.
October 28 (Black Monday). The rally ends. Panic selling resumes. The Dow drops almost 40 points (nearly 13 percent) to close 260.64.
October 29 (Black Tuesday). The Dow drops another 30 points (nearly 12 percent) to close at 230.07 on trading of 16 million shares. It's official: The stock market has crashed.
1932 July 8. The Dow bottoms out, closing the day at 41.22 - an 89 percent drop from its pre-crash high.
1954 November 23. Twenty-five long years after the crash, the Dow finally reaches its pre-crash high again, closing the day at 382.74. << Back to the 1929 main page
ALSO IN THIS SERIES Selected Audio Interviews Vanishing Generation Crash Redux? The Last of the Titans October 29, 1929 Stocks Then and Now How well do you know 1929? Take the Quiz The Crash Timeline Listen to "The Numbers" ... for October 29, 1929
I can't resist. . .. . . Bush's Fault!
And it has been the best overall investment since...
Three words..."buying on margin".
in those days the margin requirement was only 10%....
Expect a repeat...but in a different form. Get rich quick schemes are ever popular.
Just exactly was your thinking as you posted this in October, 2005? You tryin ta start somthin???
Start something? No. Just had it on my calendar. Given the Fed talk today, seemed timely...
Little known facts include that the Dow had record percentage gains within a few days that nearly wiped out the crash.
I'm waiting for the comparisons between the event leading up to the Crash of 29 and the events leading up to the tech bubble burst.
"What right have we to be of little faith?" -Herbert Hoover
I hope folks banking on that real estate bubble are paying attention:
1954 November 23. Twenty-five long years after the crash, the Dow finally reaches its pre-crash high again, closing the day at 382.74.
25 YEARS to make back what it lost from its high......
Where are all of the dates for the bank runs and action/innaction of the Fed? I guess that would go against the common misperception that The Crash caused the Depresssion.
LOL, you're yer usual ornery self today.
Nothing could be finer than to be a perpetually pist-off old goat!
Just to balance comment on this thread a little!!!
See, that's just what it did in the timeline. LOL
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