The Dow Jones Industrial Average reached its lowest closing level of the 1929 crash on 8 July 1932.
Although the most famous selling days occurred in October 1929, the market did not finish declining immediately afterward. The Dow continued to weaken amid the Great Depression, eventually closing at 41.22 on 8 July 1932. That level was about 89 percent below its September 1929 peak.
This timing is an important distinction between the crash and the broader depression. The October 1929 collapse shattered confidence, but banking problems, deflation, reduced production, unemployment, and contraction in international trade prolonged the market’s decline.
The Dow later recovered, but it did not regain its September 1929 closing high until 1954. The dates 24, 28, and 29 October 1929 therefore describe the famous crash phase, while 8 July 1932 identifies the later trough.