October 24, 1: The greatest bull market of the 20th century begins after the Dow Jones Industrial Average closes the day near President Calvin Coolidge, in his State of the Union address, makes one of the worst market-timing calls in history: Enlarging production is consumed by an increasing demand at home, and an expanding commerce abroad.

The country can regard the present with satisfaction and anticipate the future with optimism…. Still the Dow closes down 2. The bull market of the s is about to end and the Great Depression is waiting in the wings.

Dow Jones 30 stocks on the New York Stock Exchange dropped from a September 3, high of to when the exchange opened on October 28, Before October 24, , the record volume of stocks traded was 8,,, which occurred on March 26, From October 24 to 28, intensely heavy trading elevated the volume of almost every session to near or above the March 26 record. This overwhelmed the Stock Exchange. The big gong had hardly sounded in the great hall of the Exchange before the storm broke in full force.

Huge blocks of stock were flung upon the market for what they would bring. Not only were innumerable small traders being sold out but big ones too, protagonists of the new economic era who a few weeks before had counted themselves millionaires. The carnage does not just strike illiquid stocks like Transamerica Corp.

The Dow Jones Industrial Average has one of its best days ever, rocketing up 29 points, or My son and I have for some days been purchasing sound common stocks. Up till the last hour, volume is light and stocks hold steady. Then a tidal wave of selling crashes onto the floor of the New York Stock Exchange, driving U.

General Electric and New York Central Railroad hit new lows for the year, and the Dow Jones Industrial Average finishes with one of its worst days, losing 6.

In an attempt to calm panicking investors, the New York Stock Exchange announces that it will be open for trading only three hours a day this week. The Dow Jones Industrial Average drops 5. The stock market sludges through a day of murky panic, as 2.

General Electric and New York Central Railroad reach new lows for the year. The Dow Jones Industrial Average finishes with one of its worst days ever, losing 6. The stock market hits its low for the year as the Dow slumps to , off from its yearly high of on September 3.

The carnage in individual stocks is far worse: Stocks bounce off the absolute bottom of the Great Crash, as a wave of good news hits the market. The Dow soars near 19 points, or 9. That works for a while.

Then it stops working — for more than a quarter of a century. For those who worry that the American economy is in trouble, Charles M.

Stocks Collapse In 16,,share Day, But Rally At Close Cheers Brokers; Bankers Optimistic, To Continue Aid

Schwab, chairman of Bethlehem Steel Corp. This great speculative era in Wall Street, in which stocks have crashed, means nothing in the welfare of business. The same factories have the same wheels turning. Wealth is beyond the quotations of Wall Street. Wealth is founded on the industries of the nation, and while they are sound, stocks may go up and stocks may go down, but the nation will prosper.

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Drunken brokers blowing whistles and whirling noisemakers stagger around the Exchange floor, and the racket can be heard all the way over on Broadway, two city blocks away. The brokers are celebrating two things: They will learn soon enough that their celebration is uncalled for. American business is steadily coming back to a normal level of prosperity. The New York Stock Exchange reopens after closing for two weeks during Pres. Stocks are trading at an estimated 10 times their earnings for the coming year.

Roosevelt takes the U. The Dow Jones Industrial Average closes at a record high of , finally surpassing its previous high — set a quarter-century earlier on September 3, Adrian Mastracci is a financial planner and portfolio manager at KCM Wealth Management Inc.

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Please enter your email below, and we'll send you a new code to reset your password. We've sent you an email with instructions to create a new password. All FP Tech Desk. The Great Crash of , some key dates It has been 82 years since the Great Crash that ushered in the Great Depression.

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Here is a look back at some of the dates Ottawa Citizen. Special to Financial Post. Filed under Personal Finance. Here is a look back at some of the dates. The Dow closes near 42, which turns out to be the lowest point of the Great Crash. Mortgage Calculator Calculate your monthly mortgage payments. Mortgage Comparison Compare payments and other costs associated with getting a new mortgage.

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The Stock Market Crash

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