The Dow Jones Industrial Average reached its pre-crash closing peak on September 3, 1929, before the Wall Street Crash.
The Dow closed at 381.17 that day, ending a long period of rising share prices and intense speculation. Many investors bought stocks with borrowed money, increasing both potential gains and potential losses.
The market weakened later in September and October. October 24 became known as Black Thursday after heavy selling, while October 29, called Black Tuesday, brought another severe wave of liquidation. The decline continued beyond those famous dates.
The crash is commonly treated as the beginning of the Great Depression, although the Depression resulted from several interacting causes, including banking failures, falling demand, monetary policy, and international economic problems. The Dow did not regain its September 1929 closing high until 1954.