The Dow Jones Industrial Average reached a pre-crash high close of 381.17 before the 1929 Wall Street Crash.
That record close occurred on September 3, 1929, after a long period of rising U.S. share prices and widespread public enthusiasm for stocks. Many investors bought on margin, borrowing money to purchase securities. This increased potential gains but also made forced selling more likely when prices turned downward.
The market weakened during September and October. Panic selling intensified on Black Thursday, October 24, and reached a notorious climax on Black Monday and Black Tuesday, October 28 and 29. The Dow eventually lost almost 89 percent from its 1929 peak before reaching its low in 1932.
The 381.17 figure is a closing level, not an intraday quotation. The distinction matters because historical market records often report both daily highs and closing values.