Precise chronology of the 1929 crash: the collapse in detail
The 1929 stock market crash, often considered the catalyst of the Great Depression, unfolded according to a chaotic but identifiable sequence. The Dow Jones Industrial Average (DJIA) reached its historic peak at 381.17 points on September 3, 1929, marking the height of a speculative bubble fueled by excessive optimism and unprecedented credit expansion. This peak was followed by a brutal fall, starting at the end of September, but truly dramatic from Thursday, October 24, 1929, nicknamed "Black Thursday."
That day, the DJIA dropped by 11%, recording the first major panic. Despite an attempt to stabilize by a group of New York banks, investor nervousness only intensified. The following week, on Tuesday, October 29, known as "Black Tuesday," the rout worsened with a 12% drop, a cumulative loss of more than 20% in one week. This plunge marked the beginning of a long descent that lasted nearly three years.
The DJIA continued its downward spiral, reaching a historic low on July 8, 1932, at 41.22 points, a drop of 89% from the September 1929 peak. This level was not regained until November 1954, 25 years after the initial crash, illustrating the depth and longevity of this crisis.
| Date | Event | DJIA | Daily change (%) |
|---|---|---|---|
| September 3, 1929 | Historic peak | 381.17 | â |
| October 24, 1929 (Black Thursday) | Initial brutal fall | â | -11% |
| October 29, 1929 (Black Tuesday) | New major rout | â | -12% |
| July 8, 1932 | Historic low | 41.22 | â |
| November 1954 | Return to 1929 level | 381.17 | â |