90 years ago…

This week marked 90 years since the Wall Street crash. On October 29, 1929, “Black Tuesday” hit Wall Street when investors traded about 16 million shares on the New York Stock Exchange in a single day.

Around $14 billion in share value was lost, wiping out thousands of investors. The stock market crash of 1929 began on ‘Black Monday’, October 28, 1929, when the Dow Jones Industrial Average fell almost 13% in heavy trading.

While panic selling occurred in the first week, the biggest decline occurred in the following two years when the Great Depression hit. The DJIA reached its lowest point on July 8, 1932, 89% below its September 1929 peak, defining the most important bear market in Wall Street history. The market would not return to its 1929 peak until 1954.

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