Dow=closed at 41.22—its lowest level of the 20th century, -- FEC

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Date Posted: 02:23:10 07/08/12 Sun
Author: April 1931 to July 8, 1932
Subject:

Dow=closed at 41.22—its lowest level of the 20th century,

After a one-day recovery on October 30, where the Dow regained an additional 28.40 points, or 12%, to close at 258.47, the market continued to fall, arriving at an interim bottom on November 13, 1929, with the Dow closing at 198.60. The market then recovered for several months, starting on November 14, with the Dow gaining 18.59 points to close at 217.28, and reaching a secondary closing peak (i.e., bear market rally) of 294.07 on April 17, 1930. After the Smoot–Hawley Tariff was enacted in June, the Dow dropped again, stabilizing above 200. The following year, the Dow embarked on another, much longer, steady slide from April 1931 to July 8, 1932 when it closed at 41.22—its lowest level of the 20th century, concluding an 89% loss rate for all of the market's stocks. For most of the 1930s, the Dow began to slowly regain the ground it lost during the 1929 crash and the three years following it, but it would not return to the peak closing of September 3, 1929 until November 23, 1954.[15][16]

[edit] Economic fundamentals

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