The Dow Jones Industrial Average reached its lowest closing level of the 1929–1932 Wall Street Crash on July 8, 1932.
The index closed at 41.22 on that date, down dramatically from its record close of 381.17 on September 3, 1929. The decline therefore extended far beyond the famous October 1929 collapse and continued through the early years of the Great Depression.
October 24, 1929, became known as Black Thursday, while October 29 became Black Tuesday. Those dates mark the most famous panic selling, but they were not the final low of the broader bear market.
The Dow’s 1932 bottom remained a major historical reference point until the index recovered its pre-crash closing high in 1954. Market declines and economic contraction reinforced each other during the Depression.