Which U.S. stock index fell about 89% from its 1929 peak to its 1932 low?

The Dow Jones Industrial Average fell about 89% from its 1929 peak to its 1932 low.

The Dow reached a pre-crash closing high of 381.17 on September 3, 1929. It eventually reached a low of 41.22 on July 8, 1932, representing an approximately 89% decline. The fall was far deeper and longer than the initial October 1929 collapse alone.

The index’s losses reflected a wider economic crisis. Bank failures, falling prices, reduced industrial production, weak consumer demand, and international debt pressures reinforced one another. U.S. unemployment rose dramatically during the Great Depression, although the stock index itself was only one part of the broader story.

The Dow did not regain its September 1929 closing high until November 1954. This long recovery period is why comparisons between the 1929 crash and shorter modern corrections require care: the depth, duration, and economic setting were different.