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Dow Jones in 1929

The Dow Jones Industrial Average fell 17.2% in 1929, from 300.00 at the end of 1928 to 248.48. Its highest close was 381.17 on Sep 3 — a record that stood until November 23, 1954, and its lowest 198.69 on Nov 13. The biggest one-day fall was −12.8% on Oct 28 and the biggest rise +12.3% on Oct 30. Adjusted for inflation, it lost 17.7%.

Change in 1929
−17.2%
300.00 → 248.48
High
381.17
Sep 3
Low
198.69
Nov 13
After inflation
−17.7%
US CPI
Up days
155 of 291
longest run 11 up, 8 down
Record highs
33
closing records

Dow Jones, daily closes 1929

Numbers mark the events below
216290364previous recordJanFebMarAprMayJunJulAugSepOctNovDec1Jan 2: sets the first of 33 record closing highs this year, at 307.01.2Feb 2: The Federal Reserve Board issues a letter warning against speculative credit.3Mar 25: Stocks suffer a brief crash after Federal Reserve warnings on speculation.4Sep 3: The Dow Jones Industrial Average peaks at 381.17.5Oct 24: Black Thursday: a record 12.9 million shares trade on the NYSE.6Oct 24: Enters a bear market: 20% below its peak of 381.17 (September 3, 1929).7Oct 28: Black Monday: the Dow falls nearly 13 percent.8Oct 29: Black Tuesday: the Dow falls nearly 12 percent.9Oct 30: Biggest one-day rise of the year: +12.3%.10Nov 13: The Dow Jones Industrial Average reaches an interim bottom of 198.60.11Nov 13: Bear market low: 198.69, 47.9% below the peak.

Key Events in 1929

What happened, and how the Dow Jones moved — on the day (or the next trading day) and about a month later.

  1. 1
    Wednesday, January 2 From the data
    sets the first of 33 record closing highs this year, at 307.01.
  2. 2
    Saturday, February 2
    The Federal Reserve Board issues a letter warning against speculative credit. Source
    Dow Jones: 0.0% that day · −0.2% a month later
  3. 3
    Monday, March 25
    Stocks suffer a brief crash after Federal Reserve warnings on speculation. Source
    Dow Jones: −2.8% that day · +1.4% a month later
  4. 4
    Tuesday, September 3
    The Dow Jones Industrial Average peaks at 381.17. Source
    Dow Jones: +0.2% that day · −6.4% a month later
  5. 5
    Thursday, October 24
    Black Thursday: a record 12.9 million shares trade on the NYSE. Source
    Dow Jones: −2.1% that day · −19.7% a month later
  6. 6
    Thursday, October 24 From the data
    Enters a bear market: 20% below its peak of 381.17 (September 3, 1929).
  7. 7
    Monday, October 28
    Black Monday: the Dow falls nearly 13 percent. Source
    Dow Jones: −12.8% that day · −20.1% a month later
  8. 8
    Tuesday, October 29
    Black Tuesday: the Dow falls nearly 12 percent. Source
    Dow Jones: −11.7% that day · −7.3% a month later
  9. 9
    Wednesday, October 30 From the data
    Biggest one-day rise of the year: +12.3%.
  10. 10
    Wednesday, November 13
    The Dow Jones Industrial Average reaches an interim bottom of 198.60. Source
    Dow Jones: −5.3% that day · +15.9% a month later
  11. 11
    Wednesday, November 13 From the data
    Bear market low: 198.69, 47.9% below the peak.

Biggest days of 1929

Best daysWorst days
Oct 30+12.3%Oct 28−12.8%
Nov 14+9.4%Oct 29−11.7%
Oct 31+5.8%Nov 6−9.9%
Nov 15+5.3%Nov 11−6.8%
Oct 5+5.0%Oct 23−6.3%

Volatility: 35.8% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan317.51+5.8%317.51296.98
Feb317.410.0%322.06295.85
Mar308.85−2.7%321.18296.51
Apr319.29+3.4%319.29299.13
May297.41−6.9%327.08293.42
Jun333.79+12.2%333.79299.12
Jul347.70+4.2%347.70335.22
Aug380.33+9.4%380.33337.99
Sep343.45−9.7%381.17343.45
Oct273.51−20.4%352.86230.07
Nov238.95−12.6%257.68198.69
Dec248.48+4.0%263.46230.89
1920192119221923192419251926192719281929

Dow Jones in 1929: FAQ

How much did the Dow Jones Industrial Average fall in 1929?

The Dow Jones Industrial Average fell 17.2% in 1929, from 300.00 at the end of 1928 to 248.48. Its highest close was 381.17 on Sep 3 — a record that stood until November 23, 1954, and its lowest 198.69 on Nov 13. The biggest one-day fall was −12.8% on Oct 28 and the biggest rise +12.3% on Oct 30. Adjusted for inflation, it lost 17.7%.

What were the highest and lowest closes of the Dow Jones Industrial Average in 1929?

Highest: 381.17 on September 3, 1929. Lowest: 198.69 on November 13, 1929. It closed higher on 155 of 291 trading days.

What happened to the Dow Jones Industrial Average on October 28, 1929?

Black Monday: the Dow falls nearly 13 percent. The Dow Jones Industrial Average fell 12.8% that day, and was −20.1% a month later.

Did the Dow Jones Industrial Average reach a record high in 1929?

Yes — 33 record closing highs, the last at 381.17 on September 3, 1929.

Data: Daily closes since 26 May 1896. Saturday sessions were held until 1952. The NYSE was closed from 31 Jul to 11 Dec 1914. Price index: dividends are not included. Inflation: US CPI-U. Events marked "From the data" are found automatically from the closing prices; the others are researched, with the source linked. Not investment advice.