On this Day July 8, 1932

On this day the Dow Jones reaches its lowest point of the great depression of 41.22. This is a drop of over 89% from its peak. Its funny since I have been doing this series how many things I have seen that are slowly starting to repeat from history. You hear on the news everywhere how the next quarter of growth if shrinks again from last quarter will officially define a recession. It makes you wonder if anyone in 1929 when the depression started thought the same thing would happen. In just about anyones life time that is living today can relate to an 89 percent decline in the Dow Jones.

10b Chart 1: Dow Jones Industrial Average 600×600
10a People Gathering in Front of the New York Stock Exchange 805×600

In the chart you can see the massive decline all the way to July 8th, 1932, At that point the Dow Jones started its recovery. The panic in the United States can only been imagined, and I am sure the people got tired of hearing how they are going to fix things, as people were forced to leave areas just to find work.

Things of today are so different from then. In most peoples lifetimes we have not seen a pandemic like Covid. We have not seen a collapse of markets like this. It makes people wonder how much of history will repeat and if we learned from the lessons of the past.

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Credit for photos:

https://www.federalreservehistory.org/essays/stock-market-crash-of-1929#:~:text=The%20slide%20continued%20through%20the,89%20percent%20below%20its%20peak.

https://www.federalreservehistory.org/essays/stock-market-crash-of-1929

Credit for Event: https://thisdayinusmilhist.wordpress.com/2005/07/08/july-8/

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