On this day in , the Dow Jones Industrial Average fell to its lowest point during the Great Depression, presaging the defeat of President Herbert Hoover in November of that year and the victory of New York Gov.

Roosevelt, his Democratic challenger. The crash of in October and the ensuing collapse of economic activity saw the Dow eventually fall nearly 90 percent from its peak during the so-called Roaring Twenties.

On this day, following an intraday low of The collapse of the Dow — an index of 30 major corporations — reflected panic selling in the U.

The largest one-day percentage gain in the index, However, as a whole, throughout the Great Depression, the Dow posted some of its worst performances, producing negative returns during most of the s for both new and old stock market investors.

From to , the index fluctuated, reaching a high of in early before falling to 98 a year later. It took a while for the Dow to follow in its wake. Still, during the s, the Dow managed to make a respectable 30 percent gain from at the start of the decade to at its end.

Chuck Hughes OTME

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Great Depression hits bottom, July 8, - POLITICO

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