8th July 1932: Dow Jones falls to lowest point in the Great Depression

On the 8th July 1932, the Dow Jones Industrial Average – a key indicator of the value of America’s biggest companies – fell to its lowest point during the Great Depression that began with the Wall Street Crash. From its high of 381.17 on September 3rd 1929, the Dow plummeted by almost 90 per cent to 41.22. The last time it had closed that low was in June 1897. The spectacular collapse of the Dow reflected the issue at the heart of the Great Depression – the panic selling of US stocks that wip...