The Dow Jones Industrial Average reached its pre-crash closing high on September 3, 1929.
The index closed at 381.17 that day, after a long rise driven by easy credit, widespread speculation, and enthusiasm for rapidly expanding industries. The market then became increasingly unstable during September and October.
The 1929 crash is often described through several dramatic trading days, including Black Thursday on October 24 and Black Tuesday on October 29. However, the September 3 high is the specific benchmark used when measuring the Dow's subsequent collapse. The market eventually reached its low on July 8, 1932, when the Dow closed at 41.22.
A common mix-up is treating October 29 as the market's peak. It was one of the most notorious collapse days, not the date of the preceding record close. The Dow did not recover its September 1929 closing level until 1954.