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Dow Jones in 1931

The Dow Jones Industrial Average fell 52.7% in 1931, from 164.58 at the end of 1930 to 77.90. Its highest close was 194.36 on Feb 24, and its lowest 73.79 on Dec 17. The biggest one-day fall was −7.1% on Sep 24 and the biggest rise +14.9% on Oct 6. Adjusted for inflation, it lost 47.8%.

Change in 1931
−52.7%
164.58 → 77.90
High
194.36
Feb 24
Low
73.79
Dec 17
After inflation
−47.8%
US CPI
Up days
124 of 300
longest run 5 up, 8 down
Below record
-79.6%
at the end of 1931

Dow Jones, daily closes 1931

Numbers mark the events below
85134183JanFebMarAprMayJunJulAugSepOctNovDec1Apr 25: Enters a bear market: 20% below its peak of 194.36 (February 24, 1931).2May 11: Austria's Creditanstalt says it cannot publish its 1930 accounts, triggering a European banking crisis.3Jun 2: Bear market low: 121.70, 37.4% below the peak.4Jun 20: President Hoover proposes a one-year moratorium on war reparations and inter-government debt payments.5Sep 12: Enters a bear market: 20% below its peak of 156.93 (June 27, 1931).6Sep 21: Great Britain leaves the gold standard.7Sep 24: Biggest one-day fall of the year: −7.1%.8Oct 5: Bear market low: 86.48, 44.9% below the peak.9Oct 6: Biggest one-day rise of the year: +14.9%.10Nov 27: Enters a bear market: 20% below its peak of 116.79 (November 9, 1931).

Key Events in 1931

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

  1. 1
    Saturday, April 25 From the data
    Enters a bear market: 20% below its peak of 194.36 (February 24, 1931).
  2. 2
    Monday, May 11
    Austria's Creditanstalt says it cannot publish its 1930 accounts, triggering a European banking crisis. Source
    Dow Jones: +0.2% that day · −11.0% a month later
  3. 3
    Tuesday, June 2 From the data
    Bear market low: 121.70, 37.4% below the peak.
  4. 4
    Saturday, June 20
    President Hoover proposes a one-year moratorium on war reparations and inter-government debt payments. Source
    Dow Jones: +6.6% that day · +5.8% a month later
  5. 5
    Saturday, September 12 From the data
    Enters a bear market: 20% below its peak of 156.93 (June 27, 1931).
  6. 6
    Monday, September 21
    Great Britain leaves the gold standard. Source
    Dow Jones: −0.8% that day · −11.7% a month later
  7. 7
    Thursday, September 24 From the data
    Biggest one-day fall of the year: −7.1%.
  8. 8
    Monday, October 5 From the data
    Bear market low: 86.48, 44.9% below the peak.
  9. 9
    Tuesday, October 6 From the data
    Biggest one-day rise of the year: +14.9%.
  10. 10
    Friday, November 27 From the data
    Enters a bear market: 20% below its peak of 116.79 (November 9, 1931).

Biggest days of 1931

Best daysWorst days
Oct 6+14.9%Sep 24−7.1%
Dec 18+9.4%Oct 5−6.8%
Oct 8+8.7%Sep 18−5.5%
Jun 3+7.1%Oct 13−5.1%
Jun 20+6.6%Nov 25−4.5%

Volatility: 39.7% (annualised standard deviation of daily changes).

Month by month

MonthCloseChangeHighLow
Jan167.55+1.8%173.04161.45
Feb189.66+13.2%194.36168.71
Mar172.36−9.1%187.72172.36
Apr151.19−12.3%172.43143.61
May128.46−15.0%154.41128.46
Jun150.18+16.9%156.93121.70
Jul135.39−9.8%155.26135.39
Aug139.41+3.0%145.80133.77
Sep96.61−30.7%140.1396.61
Oct105.43+9.1%109.7086.48
Nov93.87−11.0%116.7990.02
Dec77.90−17.0%91.1773.79
1930193119321933193419351936193719381939

Dow Jones in 1931: FAQ

How much did the Dow Jones Industrial Average fall in 1931?

The Dow Jones Industrial Average fell 52.7% in 1931, from 164.58 at the end of 1930 to 77.90. Its highest close was 194.36 on Feb 24, and its lowest 73.79 on Dec 17. The biggest one-day fall was −7.1% on Sep 24 and the biggest rise +14.9% on Oct 6. Adjusted for inflation, it lost 47.8%.

What were the highest and lowest closes of the Dow Jones Industrial Average in 1931?

Highest: 194.36 on February 24, 1931. Lowest: 73.79 on December 17, 1931. It closed higher on 124 of 300 trading days.

What happened to the Dow Jones Industrial Average on June 20, 1931?

President Hoover proposes a one-year moratorium on war reparations and inter-government debt payments. The Dow Jones Industrial Average rose 6.6% that day, and was +5.8% a month later.

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.