Which U.S. stock-market index fell 89% from its 1929 peak during the Wall Street Crash?

The Dow Jones Industrial Average fell about 89% from its 1929 peak during the Wall Street Crash.

The Dow reached a pre-crash high of about 381 points on September 3, 1929. It eventually bottomed near 41 points in July 1932, representing an enormous loss from the peak. The decline unfolded over several years rather than ending after the dramatic October 1929 sessions.

The crash was associated with excessive speculation, widespread buying on margin, weakening economic conditions, and declining industrial production. Black Thursday, October 24, saw heavy selling, while Black Tuesday, October 29, became the most famous day of the panic.

The 1929 crash helped mark the beginning of the Great Depression, but historians do not generally treat it as the sole cause. Banking failures, deflation, reduced demand, and policy responses also deepened the economic crisis. The Dow did not regain its 1929 high until 1954.