Which U.S. stock-market crash followed the 1929 peak and reached its low in July 1932?

The Wall Street Crash followed the 1929 peak and reached its low in July 1932. The New York Stock Exchange’s collapse began in October 1929 after years of speculation, margin borrowing, and rapidly rising share prices.

The best-known panic sessions were Black Thursday on October 24, Black Monday on October 28, and Black Tuesday on October 29. The crash damaged confidence and reduced household and business wealth, but it was one part of the broader causes of the Great Depression. Bank failures, falling demand, debt problems, and policy choices prolonged the economic downturn.

The Dow Jones Industrial Average eventually reached a low of 41.22 on July 8, 1932, about 89% below its September 1929 peak. The market did not return to its 1929 closing high until 1954. The crash is therefore distinct from the entire Great Depression, which lasted much longer than the initial stock-market panic.