stock-marketbfletch

T The October 1929 crash came during a period of declining real estate values in the United States (which peaked in 1925) near the beginning of a chain of events that led to the Great Depression, a period of economic decline in the industialized nations. In the days leading up to "Black Thursday" the market was severely unstable. Periods of selling and high volumes of trading were interspersed with brief periods of rising prices and recovery. After the crash, the Dow Jones INdustial Average partially recovered in November-December 1929 and early 1930, only to reverse and crash again, reaching a low point of the great in 1932. On July 8, 1932 the Dow reached its lowest level of the 20th century and did not return to pre-1929 levels until November 1954.